• Privacy Policy
  • Terms
  • About us
  • Contact Us
Friday, August 19, 2022
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

Nigeria spends $1b on military

The Matters Press by The Matters Press
July 22, 2019
Reading Time: 2 mins read
0
Nigeria acquires fighter helicopters

Fighter helicopter

Fighter helicopter

Nigeria’s presidency has explained that US$1 billion withdrawn from Excess Crude Account was partly used to pay the US$490 million for a dozen Super Tucano fighter aircraft.

RELATED POSTS

BPE, group partner on investment opportunities in Nigeria

Taxation important to countries’ development

BPE, group collaborate on investment opportunities in Nigeria

The contract for the fighter jets is in a direct, government-to-government (no Contractors or Commission Agents) transaction with government of the United States.

Malam Garba Shehu, the President’s Senior Special Assistant on Media and Publicity, said that various other military procurements have been made.

He was reacting to allegations of opposition Peoples Democratic Party (PDP) that the money was spent to finance the re-election of President Muhammadu Buhari during the February 2019 presidential election.

ALSO READ  Nigeria exempts meat, table water from VAT increase

The Peoples Democratic Party in a statement on Sunday asked Buhari to explain to Nigerians what his administration had done with one billion dollars drawn from the ECA in 2017 and meant to address the nation’s security challenges.

The amount was approved by the National Economic Council in December, 2017, to be used to purchase weapons to fight insurgency across the country.

Shehu described PDP as peddling “unverifiable allegation’’ and accused the party of suffering from socio emotional distress.

He said PDP ”thinks that all governments in the world run on the basis of freewheeling looting as they did their own.

ALSO READ  Nigeria inaugurates committee to review weights and measures act

”Here is what happened to that 1,000 million dollars.

”It’s on record that the Buhari administration paid about 490 million dollars for a dozen Super Tucano fighter aircraft in a direct, government-to-government (no Contractors or Commission Agents) transaction with government of the United States.

”Various other military procurements have been made. Balance of expenditure stands at about 880 million dollars or so.’’

He said that the PDP spent Defence procurement funds on their failed 2015 political campaigns as proven in court.

”That is not to say every succeeding government, more so one led by a Buhari will do the same.”

The presidential aide added that, barring considerations of national security, the details of the stage of implementation, the procurements made and the suppliers will be obtained and made available on Monday.

ALSO READ  Senate probes $3.5b with NNPC
Tags: Military
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Edo unveils plans for investment desks
Business

BPE, group partner on investment opportunities in Nigeria

August 19, 2022
2020 Finance Bill prescribes tax incentives
Business

Taxation important to countries’ development

August 19, 2022
BPE to implement 42 transactions in 2022 work plan
Business

BPE, group collaborate on investment opportunities in Nigeria

August 19, 2022
Greedy Nigerians fall victims of Ponzi schemes
Business

Ponzi schemes, cancer to capital market — SEC

August 19, 2022
SEC frowns at resurgence of Ponzi schemes
Business

SEC to sanction stakeholders over unclaimed dividends

August 19, 2022
Retail price of kerosene increases by 98.76%
Business

Retail price of kerosene increases by 98.76%

August 19, 2022
Next Post
Killing of Nigerians must stop in South Africa

Nigeria fritters N2trn on constituency projects

62 kidnap suspects in police net

Four Turkish kidnapped

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

NIMASA moves against illegal fishing in Nigerian waters

NIMASA moves against illegal fishing in Nigerian waters

December 16, 2021
Consumer commission, CBN, EFCC investigate violations in money lending

CBN release N2bn intervention fund to Rivers state

February 12, 2022
2021 premium income for insurance industry hits N630bn — NAICOM

NAICOM to release guidelines on insurance of government’s assets

July 29, 2022

Popular Stories

  • Rising prices of goods causes protests in Morocco

    Rising prices of goods causes protests in Morocco

    0 shares
    Share 0 Tweet 0
  • INEC wants to make you rich, bid for new jobs

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Universities approved to operate distance learning centres

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • BPE, group partner on investment opportunities in Nigeria
  • Taxation important to countries’ development
  • BPE, group collaborate on investment opportunities in Nigeria

Categories

  • Agriculture
  • Business
  • Economy
  • Entertainment, Religion
  • Features
  • Foreign
  • Health
  • Multimedia
  • News
  • Oil, gas, solid mineral
  • Opinion
  • Photo
  • Politics
  • Security
  • Sports
  • Technology
  • Thematterspress
  • Uncategorized
  • Video

© 2022 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2022 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?