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Wednesday, July 5, 2017

Recession: FG enlists foreign firms to enhance recovery

The Federal Government is hiring the United States technology giants such as Oracle Corporation and Microsoft Corporation as it steps up efforts to save costs and fight corruption.

An initiative led by Redwood, California-based Oracle, has helped the Federal Government to remove 50,000 ghost workers, or fake entries, from the payroll, according to a statement from the Presidency.

Other companies interested in taking on more work in Nigeria included IBM Corporation and Sweden’s Ericsson AB, the Managing Director of government-owned Galaxy Backbone, which provides technology services to the government, Yusuf Kazaure, said.This followed Oracle’s decision to open an office in Abuja in May.

Kazaure said Galaxy Backbone’s budget had increased by 30 per cent to N4bn this year, Bloomberg reported on Tuesday.

According to him, government funding for the company will probably increase at a similar annual rate for the foreseeable future.

The Federal Government is investing about 50 per cent more on Information and Communications Technology infrastructure this year, totaling about N41bn, according to budget data.

The country is seeking to recover from its worst economic downturn in more than two decades and is using technology to improve government revenue collection and attract investment.

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