by Azeez Adeniyi

The Minister of Budget and National Planning, Udo Udoma has said the Federal Government lacks funds to pay for salaries and pensions.

Udoma said this on Thursday, while fielding questions from members of the house of representatives.

He added that half of the projected revenue in the 2017 budget is for salaries and pensions.

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Udoma said a committee has been established to solve issues relating to the welfare of workers and retirees.

“I ask for your understanding. In the 2017 budget, about half of our total projected revenues are for  salaries and pensions but the resources are not there,” Udoma said.

“Most of these categories are up to date, however there have been issues with reconciliation of the numbers.

“The president is extremely concerned about this. He has directed us to get to the bottom of this as quickly as possible and a committee headed by the minister of finance should meet with all the relevant agencies and reconcile numbers.”