Despite the scarcity in foreign exchange in Nigeria, the federal government has reportedly spent 11.56 million dollars on remodeling and refurbishing one hundred and seven armoured vehicles which was donated by the Hashemite Kingdom of Jordan.
The Second Quarter and Half-Year 2022 Budget Implementation Report seen on the website of the Budget Office of the Federation disclosed that this was done in the second quarter of 2021.
According to the report, the Federal Government had taken thirty five million dollars to procure 2X High Endurance Offshore Patrol Vessels, while $0.01m was received as accrued interest on fund investment between March and May 2022.
Meanwhile, the Director-General of Manufacturers Association of Nigeria– Mr Segun Ajayi-Kadir, however said that the general concern among manufacturers was the difficulty and “most often inability to access the forex they need to purchase machines, spares and critical raw materials that are not locally available.”
Uploaded by: FAVOUR ADEBOYE