Tuesday, 29 November 2016

National Assembly approves Pres. Buhari’s virement request


The National Assembly has approved the virement request of President Buhari with an increment of over N33 billion. Virement means an administrative transfer of funds from one part of a budget to another. President Buhari had earlier requested for N180 billion virement from the 2016 Appropriation Act but the senate and the House of Representatives turned his request down.

However both Chambers have granted the request. While the House of Representatives passed the virement last Tuesday and jerked it up to N208billipn, the Senate gave its approval today and raised it
to N213billion.

According to Senate President, Bukola Saraki, the special intervention funds will be used for critical recurrent and capital items.

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