Why Buhari’s government can’t touch N2trn recovered loot



Senator Kabir Ibrahim Gaya has reacted to Nigerians’ criticisms about the N2.5 trillion recovered from looters – Senator Gaya said he knows why some Nigerians are grumbling about the recovered loot of President Buhari’s government – He revealed that the hunger in the country alone could make people go angry with the government Senator Kabir Ibrahim Gaya (APC), chairman of the Senate committee on works, has reacted to criticism trailing the N2.5 trillion recovered from looters. The recovered funds according to reports are deposited in the Central Bank of Nigeria (CBN).

Gaya argued that Nigerians are only criticising the government because they feel that the recovered money could be used to restore the troubled economy in the country. He said “Only N500 billion can be accessed while the remaining N2 trillion is still there in the bank.

‘’This money is already being contested between the accused and the government in courts. “There are cases of corruption since the administration of former President Olusegun Obasanjo to date. Buhari wants to work and he needs money to do so but there are suits in court.”

According to Daily Independent, Gaya also talked on the alleged delay of the 2017 budget. He insisted that Senate President Bukola, Saraki and Speaker Yakubu Dogara, were in fact very keen on quick passage of the budget. Senator Gaya said: “When we looked at the budget, there were so many things that needed to be addressed. I said we cannot finish it until April and they shouted at me. “But I explained that President Buhari said in the federal executive council in January, he approved 36 road projects, and I know that they were not captured in the 2017 budget but in the 2016 budget.

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“That is why we had to check the budget of 2017 carefully. This is why I commend Saraki, Dogara, Goje and Dawaki because we studied the budget item by item, and we were able to finish the budget and submitted it to the government. “The budget of the Ministry of Works was about N28 billion during the last administration and when Buhari came, he made a budget of N280 billion on roads and N350 billion this year as his commitment to have good roads across the country.

“And the National Assembly has amended the act to reduce the long process of procurement to three or four months because projects approved for 2016 were not procured until March and April of this year (2017). These are the reasons why we had the delay” Meanwhile earlier reported that the President Muhammadu Buhari led federal government had proposed to fund part of the 2017 budget deficit of N2.69 trillion from monies recovered from looters. FG in a Medium Term Expenditure Framework/Fiscal Strategy Paper submitted to the National Assembly was proposing to spend the sum of N6.86tn in 2017, with total revenue of N4.16tn.

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