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Nigeria is broke – Chris Ngige
<h4><span style="font-size: 16px;">Minister of Labour and Employment, Chris Ngige has revealed that Nigeria is broke.</span></h4>
<p><img class="aligncenter wp-image-30191 size-full" src="https://thedailypage.ng/wp-content/uploads/2022/07/Dr-Chris-Ngige.jpg" alt="Chris Ngige says Nigeria is broke " width="650" height="382" /></p>
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<p><span style="font-size: 16px;">He stated this while speaking at the 2022 World Day Against Child Labour on Thursday in Abuja.</span></p>
<p><span style="font-size: 16px;">According to him, the Federal Government does not have money to prosecute capital projects next year, a development that might worsen unemployment and poverty.</span></p>
<p><span style="font-size: 16px;">He added that Nigeria spent billions on social programs to fight against poverty.</span></p>
<p><span style="font-size: 16px;">He said, &#8220;I can tell you that Nigeria is broke. There is no money to fund capital projects next year. As you can see, the dollar that has been hovering around N500 and N600 is now above N700. The truth is that there is no money anywhere.</span></p>
<p><span style="font-size: 16px;">&#8220;The money that the FAAC (Federation Account Allocation Committee) has been sharing is money from taxes, customs, and other revenue-generating agencies.</span></p>
<p><span style="font-size: 16px;">&#8220;The National Nigerian Petroleum Company Limited (NNPC) no longer remits money to FAAC. So, the situation calls for patriotism from all Nigerians.</span></p>
<p><span style="font-size: 16px;">&#8220;The lack of money to fund capital projects would have implications on the capacity to create jobs. If jobs are not created, poverty will increase in the country,&#8221; he said.</span></p>