Sanusi: Cost of running govt too high

GOVERNOR of the Central Bank of Nigeria (CBN), Malam Sanusi Lamido, said yesterday that unless the cost of running government is reduced through the review of the Constitution, Nigerians should not expect any reduction in recurrent expenditure in the 2012 Budget.According to Sanusi, who spoke at a round table with the Managing Director of the International Monetary Fund (IMF), Ms. Christine Lagarde, and private sectors leaders, organised by the Federal Ministry of Finance and the Nigerian Economic Summit Group (NESG), the cost of running government 'is so high that it puts so much pressure on the recurrent expenditure of the fiscal document year in year out'.He stated that the Constitutionis designed with a number of fixed costs elements which will always account for a high recurrent expenditure in the budget.
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