The Nigerian Senate has approved the virement of funds for Special Intervention (Recurrent & Capital) for funding of Critical Recurrent & Capital Items.
The Senate, on Tuesday, November 29, approved the extra funds which President Muhammadu Buhari had recently requested for as an addition to the 2016 budget.
Senate President Bukola Saraki commended members of the Appropriations Committee led Senator Danjuma Goje for a job well done putting the request into proper shape.
He added that the approval will ensure capital project funding especially of local contractors and also allow for an efficient and appropriate implementation of the 2016 budget.
Recall that President Buhari had written the National Assembly on October 26, seeking for the approval of the legislature to vire N180.8 billion from the funds appropriated for special intervention in the 2016 budget.
The intervention, the presidency said, is to fund critical recurrent and capital items.
The House of Representatives, while deliberating on the request, increased the virement by N28billion from N180billion to N208billlion.
“The committee observes that there are other areas of critical needs with potential for development and stimulating the economy and for which additional funds could be provided through virement from the Special Intervention Programme,” the Reps said.
With the Senate’s approval, President Buhari now has an additional N208billion to spend on capital projects before the end of the year.
Meanwhile, the Senate has explained why it reversed its confirmation of the special assistant to the president on prosecution as a member of the governing board of the Nigerian Communications Commission (NCC).
Okoi Obono-Obla, who is the special assistant to the president on prosecution, attached to the Federal Ministry of Justice was rejected by the Senate after the nominee had earlier been confirmed by the upper chamber.
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