The National Assembly has, Tuesday, approved the virement request by President Muhammadu Buhari which is in the tune of N208.821 billion. The virement fund explained by the President as ‘critical recurrent and capital items’ is for execution of key infrastructural projects across the country between 2016 and 2018.
President Buhari had requested for virement of N180.8 billion in the 2016 budget for provision of needed votes for some sectors as well as to “provide for inadequacy in the provision for the National Youth Service Corps in the 2016 budget’’.
However, the House of Representatives increased the virement fund request from N180 billion to N208.821 billion.
Senate approves the virement of funds for Special Intervention (Recurrent & Capital) for funding of Critical Recurrent & Capital Items.
— The Nigerian Senate (@NGRSenate) November 29, 2016
Senate approves the Clause of the Virement of Funds for Special Intervention for Funding of Critical Recurrent and Capital Items.
— The Nigerian Senate (@NGRSenate) November 29, 2016
Senate President @bukolasaraki commends members of the #AppropriationsCttee for a job well done. He adds that the approval will ensure…
— The Nigerian Senate (@NGRSenate) November 29, 2016
…capital project funding esp of local contractors as well as efficient and appropriate implementation of the #Budget2016.
— The Nigerian Senate (@NGRSenate) November 29, 2016
