Officials of the Federal Government spent N248 billion on travels between 2012 and 2014. The Special Adviser to the Minister of Finance on Media, Mr. Festus Akanbi, who disclosed this in a statement, in Abuja, yesterday, said, however, that officials of the ministry have opened discussions with local and international airlines to secure discount through which about N4 billion could be saved this year.
“A review of government overhead expenditure for the period 2012 to 2014 showed that travel was the largest single expenditure item. ‘’A cumulative total of N248 billion, equivalent to about 18 per cent of total overhead expenditure, was spent on travel during the period. “This translates to N83 billion per annum. At a conservative discount of 5 per cent on ticket prices,the estimated savings per annum is approximately N4 billion. “To this end, the Efficiency Unit has engaged in negotiation and discussions with local and international airlines for discounts commensurate with the large number of ticket purchases made by government annually.
‘’The savings generated will increase funding available to the government for capital investment,” he said. He explained that given the large amount spent on travel, and consequently the significant potential for savings, it was imperative that the Efficiency Unit prioritises travel as a key focus area for cost cutting and generation of savings. Mr. Akanbi reiterated the commitment of the federal government to cut costs and promote fiscal prudence.
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