Osinbajo mulls N135.643 billion virement for priority projects

0
838

Acting President Yemi Osinbajo wants the approval of the House of Representatives for the virement of N134,643,018,749 billion from various budget lines to fund the Federal Government’s priority projects and programmes.

Speaker Yakubu Dogara who read the acting President’s correspondence during plenary session yesterday explained that the requisition was based on the discussion held between the executive arm and the leadership of the National Assembly shortly before the signing into law of the 2017 budget on June 12 this year.

According to Osinbajo’s correspondence with reference number BD /2000/EXP/S.857/11/, the ministries to be affected by the virement comprises Federal Ministry of Power Works and Housing – N46,004,049,292, Federal Ministry of Transportation -N66,000,000,000.

The ministries where money is to be vired from comprises Federal Ministry of Transportation – N33,247,000.000, Federal Ministry of Power, Works and Housing, N3,181,973,545, Office of the Secretary to the Government of Federation -N14,130,719,780, Office of the National Security Adviser -N5,000,000,000, Federal Ministry of Science and Technology, N5,009,244,926, Federal Ministry of Trade and Investment, N5,404,065,749, totaling N66,000,000,000.

Similarly, the sum of N1,000,000,000 is to be vired from the Federal Ministry of Agriculture and Rural Development and N7,698,811,674 from the Federal Ministry of Interior, while the sources of the virement is Federal Ministry of Interior N7,698,811,674 and Federal Ministry of Trade and Investment N80,500,000, totaling N7,698,811,674.

Amount to be vired from the Federal Ministry of Defence is N3,150,000,000, Federal Ministry of Education N770,000,000, Federal Capital Territory (FCT), N3,000,000,000 while the sources of the virement is the FCT N1, 700,000.000 and the Federal Ministry of Trade and Investment N1, 300,000,000, totaling N3,000,000,000.

For the Federal Ministry of Health headquarters , the sum of N1,000,000,000 is to be vired, while the sum of N735,035,000 is to be vired from within projects in the Office of the Secretary to the Government of the Federation, the sum of N1,093,579,983 is to be vired from the Federal Ministry of Labour and Employment, the sum of N729,000,000 to be vired from the Federal Ministry of Information and Culture, the sum of N734,000,000 to be vired from the Federal Ministry of Communication Technology.

He further listed ministries where monies would be vired from as Federal Ministry of Water Resources, N2,387,541,000, Federal Ministry of Mines and Steel Development N1,100,000.000, and Federal Ministry of Environment N241,643,018,749.

SHARE
Previous articleFAAC Disburses N462.36bn in June 2017 – NBS
Next articleFG presents MTEF draft to state governors
Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.