Foreign and local travel was the largest single expenditure item, according to a review of government’s overhead expenditure for the period 2012 to 2014.
A cumulative total of N248 billion, equivalent to about 18% of total overhead expenditure, was spent on travels during the period. This translates to N83bn per annum.
A statement from the Federal Ministry of Finance said discussions with local and international airlines to secure discounts for travel by government officials are yielding positive results.
The ministry said at a conservative discount of 5% on ticket prices, the estimated savings per annum is approximately N4bn.
The Special Assistant Media to the Minister of Finance, Festus Akanbi, said given the large amount spent on travel, and consequently the significant potential for savings, it is imperative that the Efficiency Unit prioritises travel as a key focus area for cost cutting and generation of savings.
To this end, the Efficiency Unit has engaged in 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.
FG Spend on Local, Foreign Travels in Three Years Hits N248billion – https://t.co/vmvjm3BjrW https://t.co/t6m9MZ1ygK