In the result, the Federal Military Government has had to have recourse to inflationary financing. Furthermore, our foreign exchange position shows a more or less similar trend. It is clear, from all that I have said, therefore, that, as a matter of great urgency, the Federal Military Government must do something about our finances. iii) Capital projects in respect of which the Federal Military Government has not irrevocably committed itself are postponed for the time being. These Missions cost us a fortune in foreign exchange, and there is no doubt that some of them are maintained for prestige purposes only.

Source: Nigerian Tribune April 22, 2018 02:15 UTC