We Are Using Recovered Loots To Fund 2017 Budget – Buhari

On October 10, 2017 112 Comments

Nigeria’s president, Muhammadu Buhari says on Tuesday that his administration is using part of the stolen funds recovered from Nigerians who looted the economy to fund the 2017 budget.

Buhari spoke at the 22nd Annual Conference of the Association of National Accountants of Nigeria in Abuja.

Represented by the Accountant General of the Federation, Alhaji Idris Ahmed, the president said the government had resolved to use some of the recovered stolen funds to finance the 2017 budget.

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He said his administration had practically done much in delivering on its core focus of diversifying the economy.

In his words: “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.”

Buhari added that his government 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.

ANAN Chairman of Council, Alhaji Shehu Ladan, pledged the support of the association to the government’s economic agenda.

Ladan said, “The accountant is key. We are calling on our members to increase their integrity quotient. As an association, we are strengthening our discipline mechanism to ensure that members found wanting do not go unpunished.”

He said it was important for the government to ensure the reinvestment of the recovered stolen funds to make for quicker recovery of the economy, PUNCH reports.

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Comments (112)


  1. Clifford Ogwurumba says:

    No sir for U have not quantified and declosed how much was recovered before appropriation. This is public revenue and not deposit held in account for someone, so care need to be taken to plug holes to avoid lickages by not getting Presidential declaration.

  2. Henry Njoku says:

    Story don start, but I hear sey dem know even know the amount wey dem recover and no wan touch am… How come dem don dey use am for funding already… My people, that so called recovery loots, that is if there is any recovery. DON GROW LEG ooooo … hihihihihihi……

  3. Austin Kasie Kelvin says:

    I thank God Buhari won and the President of Nigeria… if not by now those useless animals called Almajiris arewa youths including some useless idiots from West will be thinking Nigeria will be like US by now… enjoy the change

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