Connect with us

Hi, what are you looking for?

The Periscope Global

News

FG, MDAs Expended $8.28bn on Medicals, School Fees in 2017

FG, MDAs Expended $8.28bn on Medicals, School Fees in 2017

The 2017 Annual Activity Report of the Banking and Payment System Department of the Central Bank of Nigeria (CBN), has revealed that the federal government spent $8.28 billion on medical services and school fees abroad in the year under review.

The amount was an increase of 123.18 per cent, compared with the $3.71 billion recorded in 2016.

The rise was attributed to increase in government activities within the reviewed period.

The report posted on the central bank’s website showed that total payments to Nigerian High Commissions and Embassies amounted to $0.23 billion in 2017, up from $0.20 billion in 2016, representing an increase of 15.00 per cent.

According to the report, the sum of $0.012 billion was paid in respect of federal governments’ obligations to international organisations in the year under review, as against $0.010 billion in 2016. This was an increase of 20 per cent.

During the reviewed period, the sum of $0.34 billion was paid to various service providers, compared to $0.81 billion in 2016, indicating a decrease of 58.03 per cent.

Also, in terms of receipts and monetisation of foreign exchange inflows from oil and gas, it states that there was a decline in crude oil receipts compared to the previous year but however an increase in gas receipts.

“In 2017, crude oil receipts amounted to $2.10 billion against $2.35 billion in 2016, while gas receipts stood at$0.66 billion compared to $ 0.07 billion in 2016. The total receipts amounted to $2.76 billion, in the review period, from $2.42 billion in 2016, representing an increase of $0.03 billion (14.45%).”

Source: Thisday

READ ALSO

News

Adamawa: Husband murders mother of six in Mubi, for rituals or lunacy? The Periscope crime scene reporter A polygamous husband Aliyu Hussaini has allegedly...

Monarchy

The Nursing and Midwifery Council of Nigeria has granted approval for the Federal Medical Centre, Yola Adamawa state, Nigeria, to run School of Post...

News

Adamawa: No bank overdraft no April salary Adamawa workers, like most of the state government workers in the country, lamented over non payment of...

News

The Periscope reporter The pioneer postgraduate peri operative students of the Federal Medical Centre FMC Yola have graduated with distinction. The Periscope has in...