The Federal Government is using part of the stolen funds recovered from those that looted the economy to finance the 2017 budget, President Muhammadu Buhari has said. Buhari who spoke at the 22nd Annual Conference of the Association of National Accountants of Nigeria in Abuja on Tuesday was represented by the Accountant General of the Federation, Alhaji Idris Ahmed.
He said the government had resolved to use some of the recovered stolen funds to finance the 2017 budget. Buhari said, “My Administration has practically done much in delivering on its core focus of diversifying the economy. Part of the stolen funds recovered is being used by government to finance the 2017 budget. Power generation has peaked at an all-time high of 7,001 Megawatts in the third quarter of 2017.”
The president also disclosed that his administration was aiming at the production of 10,000 Megawatts of electricity by the year 2020. He said the firm implementation of the Treasury Single Account since September 2015 had significantly enhanced transparency in the Federal Government’s Public Financial Management System.
Photo Credit: Getty
