N520,000 SHOCKING SPENDING, N451M QUESTIONABLE CONTRACTS

N520,000 Shocking Spending

The Accountant General of the Federation, Mr. Ahmed Idris, spent N520,000 to counter a request for Freedom of Information (FOI) on N173 billion spendings without proper records.[DATAPHYTE]

N451m Questionable Contracts

According to the Dataphyte investigation, COVID-19 emergency procurements worth ₦451.18 million have been awarded to unverifiable contractors or suppliers. Some of the companies do not have records on the database of the Corporate Affairs Commission (CAC) and the Contractors’ list of the Bureau of Public Procurement.[DATAPHYTE]

$20bn Foreign Investment

Despite Nigeria’s competitive market, its economy is dominated by foreign investments. For example, as of November 2019, investment of Chinese companies in Nigeria was valued above $20 billion [DATAPHYTE]

$36.2bn Gross Revenue

Whereas Nigeria’s gross reserve was valued at $35.16 billion at the end of Q1 2020, it increased to $36.2 billion at the end of Q2 2020. However, there were increases and declines within months and across the quarter.[DATAPHYTE]

N3.95bn Family Planning

Dataphyte analysis of Mr. Anayanwu’s submission showed that the federal government committed N3.95 billion to Family Planning since 2015. From the figure, N2 billion has been released. The rest is captured in the 2020 budget, while the government is yet to release part of the 2019 funding.[DATAPHYTE]

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