NLNG Corporate Teamwork banner First bank FinTech summit Fidelity bank card banner Emerald Energy Institute Camano banner

Senate considers Buhari’s N180.4 billion virement request

By News Express on 16/11/2016

Gmail icon

Views: 1,349


The Nigerian Senate on Wednesday began consideration of the N180.4 billion virement request by President Muhammadu Buhari. Virement refers to the process of transferring items from one financial account to another.

During plenary, Senate President Bukola Saraki referred the request to its Committee on Appropriation and Finance to report back in one week.

In the House of Representatives, the request was referred to the Committee on Appropriations for further legislative action.

While the upper legislative Chamber, after consideration, the request was referred to a joint committee on Appropriation and Committee on Finance.

President Buhari had communicated his request for virement on funds to both chambers of the National Assembly on October 25.

According to his letter, the request was in respect of funds appropriated for special intervention to fund some critical recurrent and capital items.

He wrote: “The request was necessitated by a number of reasons, including shortfalls in the provision of personnel cost, inadequate provision for the amnesty programme, need to sustain war against insurgency and the depreciation of the naira.

“The request is also to provide for inadequacy in the provision for the National Youth Service Corps in the 2016 budget.”

Buhari explained that in the course of implementing the budget, MDAs presented issues pertaining to salary shortfalls, as it affected those that are not under the Integrated Personnel and Payroll Information System (IPPIS).

The President described the areas for which the virement was sought as “Critical Expenditure Items”.

He also noted that budgeted revenues were running behind target largely due to the renewed violence in the Niger Delta without supplementary revenue sources.

Buhari explained that due to the shortfalls and the other challenges, “the total recurrent expenditure requirement is N166.63 billion while the capital expenditure is N14.208 billion.”

•Additional reports from NAN. Photo shows National Assembly Complex.

Source News Express

Posted 16/11/2016 8:56:48 PM

 

 

CLASSIFIED ADS

 

You may also like...
Nigerian family ‘destroyed’ by Christmas Day crash that...

Human waste can power light in millions of...

2019: Rivers Hausa community distance themselves from Wike’s...

Protesting students block Enugu-Onitsha Expressway

HELP! I DON’T WANT TO DIE – Man...

At least 23 die in weekend of Ethiopia...

US worries over Huawei and ZTE, other China-based...

Boko Haram recruits 2,000 child soldiers

APC stakeholders forum calls for strengthening of security...

Kebbi businessman, 5,000 APC members defect to PDP...

EFCC rejects Ganduje’s N10 million donation

2019 Presidency: Turaki maintains lead, continues consultations

 

Latest News FG to partner innovative companies on the national cooperative housing scheme Kwara explains temporary cut in water supply Onitsha Fire: Time for govt to rev up its rapid response strategy — CLO Court fixes Nov. 4 for hearing of Lokpobiri’s suit challenging Bayelsa APC guber primary No fresh appointment has been made by Abia Poly Management — Rector Oshiomhole's man threatens suicide Border closure: Smugglers devise fresh tactics 20 wounded, many feared dead in wedding blast CAN blasts MURIC for allegedly associating Christ with kidnapping Fed Poly expels 66 students for alleged exam malpractice Troops capture cache of arms/equipment of terrorists, arrest logistics supplier Border closure: Used vehicles flood Apapa port

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (551,556 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (447,609 views) Shameless Genevieve Nnaji exposes breasts in public (395,212 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (330,919 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (299,169 views) 10 cars more expensive than Jets (265,137 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (256,197 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (253,534 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (235,032 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (221,203 views) Lagos plane crash: Journalist releases victims’ names (198,687 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (195,885 views)

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (105) Business & Economy (4,498) Business Verdict (85) Columnists (1,130) Complaints & Requests (96) Enterprise & Opportunities (218) Entertainment (691) Features (833) Global Business Monitor (467) ICT Monitor (66) International (4,088) Interview (204) Live Commentary (30) Love Matters (174) Maggie's Blog (452) News (52,794) Opinion (1,398) Pidgin (17) Politics (11,583) Religion (1,111) Sports (2,196) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera