Immediate Benefits Accrued By President Buhari N2.7 Trillion, $13.6 Billion

Due to President Muhammadu Buhari’s recent state visit to the United States, the Presidency claimed yesterday that an estimated N2.7 trillion ($13.6 billion) worth of direct investment is part of the immediate benefits accruing.

The presidency also affirmed that the visit cost the Nigerian treasury less than N220 million contrary to assertions in some sections of the media. It further explained that President 

Buhari’s son, Yusuf, did not receive any estacode for the trip even as it contended that great savings were made by members of the delegation against previous visits.

The five governors who were in the delegation, the presidency said, paid their way while permanent secretaries and other senior government officials only received their entitlements.

The presidency’s explanations followed news reports in some sections of the media that the visit was wasteful, cost N2.2 billion and was not in anyway beneficial.

In a statement, yesterday, Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu, said besides the economic benefits, plans were already in motion to lift hindrances to the flow of military support for Nigeria’s war against insurgents in the North-East.

According to Mallam Garba Shehu, “some of the more immediate benefits of the President’s trip to the US include: the proposed $2.1 billion fund from the World Bank for the re-development of the northeast battered by Boko Haram; $5 billion from US investors in Nigeria’s agriculture sector; $1.5 billion investment in the Nigerian’s health sector; and another $5 billion investment from the US in our country’s power sector.