By Ahmed Ubandoma
The Managing Director, North East Development Commission (NEDC), Mr Mohammed Alkali, said high inflation rate and floating of the naira had negatively affected the successful implementation of the commission’s master plan.
Alkali said this on Tuesday when he received in his office the Federation Accounts Allocation Committee (FAAC) Postmortem Sub-Committee, led by its Chairman, Mr Kabir Mashi, in Abuja.
The NEDC chief identified a paucity of funds as another challenge hampering the hitch-free implementation of their master plan.
He said that as of June 2022, the implementation of the North East Stabilisation and Development Master plan (NESDMP) was expected to cost 31.05 trillion naira (or 80 billion dollars).
“As you know, the issue with naira to dollar equivalent and so when you calculate the funding available to the Commission vis-a- vie the funding of the northeast stabilisation and development master plan, it needed to be improved” he…
Source: News Agency of Nigeria
