Adeosun Gives Reasons Why They Hired Foreign PR Consultants

Minister of Finance, Kemi Adeosun, has realized a statement to news reporters as to why her ministry hired Africa Practice, British public relations, and strategic communications consultants. The minister had earlier been accused of wasting the country’s resources by hiring a British PR consultant at $2 million per month at official rates.

Adeosun said the details of the deal are all available to the public, adding that it was approved by the Federal Executive Council (FEC). “Africa Practice was engaged for international work on Eurobond for the next three years alongside Citibank, Standard Chartered, and Banwo and Ighodalo,” Adeosun said. As against the reported N610 million per month, Adeosun said Africa Practice was hired at N25 million per year or N2.083 per month.

She said her ministry and the hired partners have succeeded in raising $1.5 billion for the country, with more to come. Adeosun added that Africa Practice was present at the just concluded World Bank, IMF meetings in Washington DC as part of the assignment of interfacing with international investors. Africa Practice offers “risk advisory services with strategic communications” to help clients “identify opportunity, mitigate risk and overcome critical communications challenges”.