TSA POLICY: Federal Government saves N24.7bn monthly

ABUJA: The All Progressives Congress (APC)- led federal government has received high performance ratings in the management of the nation’s economy, even as the government has continued to save up to N24.7 billion monthly as a result of Treasury Single Account (TSA) policy.

A professor of Economics from the Nassarawa State University Uche Uwaleke who gave an in-depth assessment of the achievements of President Muhammadu Buhari within the last two and half years in office, also revealed that about N108 billion has been saved from removal of maintenance fees payable to banks before TSA.

Speaking yesterday in Abuja at the week-long leadership training programme organised under the auspices of the National Committee of Buhari Support Groups (NCBSG) for its coordinators nationwide, prof. Uwaleke said the sudden and unexpected drop in crude oil price from a peak of US$114.6-O/bbl in June 2014 to under US$30] bbl by February 2016 created financial crises for the government.

“Effective implementation of the Treasury Single Account, entrenching transparency and accountability. N108 billion has been saved from removal of maintenance fees payable to banks before TSA. The nation is being saved N24.7 billion monthly with the full implementation of the TSA and implementation of the Bank Verification Number (BVN), thus tackling corruption by plugging loopholes for siphoning of public fund and tracking of illicit funds through multiple accounts

According to him, Buhari led administration has expended over N1.2 trillion on capital/infrastructure projects nationwide last year was a milestone in the nation’s history.

“Improvement in transport infrastructure (rail and road); construction work ongoing on the Lagos-lbadan Expressway, renovation of Abuja international Airport runway, completion of Abuja Kaduna Railway among others.

“Support to states: Bailout of cash crunch states; about N689 billion to 27 states of the federation to pay salaries in 2015. Complete refund of Paris loan deductions to states (unprecedented) played a part.”