Government Bans V8 Importation For officials


President Akufo-Addo has given directive to suspend the purchase of imported vehicles with immediate effect as part of the measures to save the economy.

Minister of Finance, Ken Ofori-Atta who announced this on Thursday said the move will help reduce government reliance on the importation of vehicles by 50%.

According to him, “Discretionary spending is to be further cut by an additional 10%.
The Ministry of Finance is currently meeting with MDAs to review their spending plans for the rest of the three quarters to achieve the discretionary expenditure cuts; “these times call for very efficient use of energy resources”.

Read also: We’ll Make History In Kumasi – Nigeria Captain Ahmed Musah

He explained that “In line with this, there will be a 50% cut in fuel coupon allocations for all political appointees and Heads of government institutions, including SOEs, effective 1 April 2022 and with immediate effect, Government has imposed a complete moratorium on the purchase of imported vehicles for the rest of the year”.

He said, “This will affect all new orders, especially 4-wheel drives. We will ensure that the overall effect is to reduce total vehicle purchases by the public sector by at least 50 percent for the period”.

He also announced that fuel coupons to government appointees will be slashed by 50% with immediate effect.