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: 1,335


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...
Bayelsa election petition tribunal relocates to Abuja

CBN sells treasuries above inflation to attract dollar...

NUC clears the air, says medical students now...

Senate President David Mark escapes death as gunmen...

Nollywood star Omotola Jalade-Ekeinde’s husband linked to plane...

Breaking News: Jonathan sets up Boko Haram Amnesty...

Akwa Ibom Govt. eulogises CP Achong on retirement...

Senator Zanna’s death a big blow, says David...

Group warns against post-election violence, foreign interference

Abia Development: Ikpeazu, stakeholders discuss education, others

DR Congo faces fresh Ebola risk after attacks...

REVEALED: How Anambra Govt. blew N.56b on Silver...

 

Latest News Port Harcourt serial killer unmasked Buhari sacks Head of Service Oyo-Ita, hands job to Yemi-Esan Another suspected Port Harcourt serial killer nabbed Alleged rape: Adamawa teacher, 12-year-old schoolgirl are lovers — NUT chairman Pandemonium in Onitsha market as Police officer shoots vigilante chief 5 killed, several injured as gunmen attack Taraba communities Champions League: Man City win convincingly in Shakhtar, PSG beat Real Public outcry over N5.5bn voted for lawmakers’ utility vehicles nonsensical, says Senate Dickson fires aide over misconduct Governors meet over N614bn bailout deductions, others Nigeria, South Africa, xenophobia and the United Nations, By Bashir Maidugu RIWAMA issues final warning to defaulting service providers

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (541,552 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (443,461 views) Shameless Genevieve Nnaji exposes breasts in public (389,806 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (326,913 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (294,945 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (253,779 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (249,961 views) 10 cars more expensive than Jets (238,642 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (231,651 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (217,694 views) Lagos plane crash: Journalist releases victims’ names (196,010 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (193,595 views)

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (102) Business & Economy (4,451) Business Verdict (80) Columnists (1,110) Complaints & Requests (96) Enterprise & Opportunities (215) Entertainment (664) Features (812) Global Business Monitor (442) ICT Monitor (63) International (3,963) Interview (203) Live Commentary (30) Love Matters (170) Maggie's Blog (414) News (51,468) Opinion (1,360) Pidgin (17) Politics (11,453) Religion (1,102) Sports (2,170) 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