Buhari fund 2017 budget partly funded by recovered loot– Assistant

President Muhammadu Buhari’s senior special assistant on prosecutions, Okoi Obono-Obla, has on Tuesday said that about 20 per cent of the 2017 budget spending would be financed from funds recovered from stolen treasury.

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While speaking with newsmen, Obono-Obla said in response to questions about what the federal government is doing with the recovered funds so far.

His words: “Recovered loot part of the source from 2017 budget will be financed from. It is about 20 per cent of the total spending.”

“To achieve this the Federal government will liaise with the National Assembly so that such fund will be used.”

The budget document was signed into law on Monday by the Acting President Yemi Osinbajo, consisting of a total of N7.44 trillion, where N2.36 trillion is expected to be funded with borrowing.

 
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Osinbajo siad, “Expected fiscal deficit of N2.36 trillion will be funded with borrowing.”

The President’s SSA on Prosecution however did not disclose whether the 20 per cent of the total budget to be funded by recovered loots will be included in the budget deficit or part of the remaining N5.08 trillion from government purse.

Mr Obono-Obla commended the Buhari-led administration in conjunction with the All Progressives Congress for entrenching stability of the polity of the country and putting end to corruption in government offices.

He said contrary to what the media is making reporting, APC is not into any mess as per leadership. He added that the party would continue to serve the interest of country by redering good democratic values and so will remain in power.

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