FCT faces economic instability amidst fluctuations in oil prices — Perm. Sec.
Alhaji Adamu Wanki, the Permanent Secretary, Treasury and Budget, Federal Capital Territory (FCT) administration, says Nigeria, particularly the FCT, faces significant economic volatility, occasioned by fluctuations in oil prices. Wanki stated this at the Chartered Institute of Treasury Management (CITM) mandatory continuous training programme/induction in Abuja on Thursday. The News Agency of Nigeria (NAN) reports […]
fct
Alhaji Adamu Wanki, the Permanent Secretary, Treasury and Budget, Federal Capital Territory (FCT) administration, says Nigeria, particularly the FCT, faces significant economic volatility, occasioned by fluctuations in oil prices.
Wanki stated this at the Chartered Institute of Treasury Management (CITM) mandatory continuous training programme/induction in Abuja on Thursday.
The News Agency of Nigeria (NAN) reports that the programme was entitled: “Challenges of Managing the Treasury and funding critical infrastructure in a volatile economy: The FCT Administration experience.”
Wanki, who described oil as a major source of government revenue in Nigeria, said that others, such as inflation, currency devaluation and external debt pressures were main contributory factors.
He said that FCT, as the seat of Nigerian government, was affected by revenue fluctuations, adding that a large proportion of revenue in the FCT came from the federal government’s allocation. (NAN)