2021 budget: Minister seeks N11.18bn for industry

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The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, on Thursday sought the approval of the Senate for the sum of N11.18bn for 2021.

He said the ministry’s budget proposal comprised personnel cost of N3.02bn; overhead cost, N762.81m; and capital budget, N7.40bn.

He pleaded with the committee to approve the sum of N7.3bn proposed for the 2021 budget, saying that the ministry had 83 capital initiatives, made up of 56 ongoing ones and 27 new projects. The minister said the ministry would facilitate credit access to 10 million MSMEs at single-digit rate and promote Made-In-Nigeria products that would bring an increase in industrial productivity, employment generation and reduction in the import of foreign products.

 

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Don't worry we will borrow from chad

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