Osinbajo seeks approval for N135bn virement

Acting President Yemi Osinbajo yesterday requested the two chambers of the National Assembly to approve a virement of N135.6 billion for the 2017 budget.

Osinbajo said in a letter dated July 18 and read on the floor of the House of Representatives by Speaker Yakubu Dogara that the virement proposal was based on an agreement reached between the Executive and the Legislature, before he signed the 2017 budget on June 12.

Osinbajo pleaded on the lawmakers to urgently consider the virement proposal in order to support government’s efforts to improve the well-being of Nigerians.

Breakdown of the amount showed that the federal ministry of transportation got N66 billion, followed by the ministry of power, works and housing, which has N46 billion.

Others are ministries of agriculture and rural development, N1bn; interior, N7.698bn; defence, N3.150bn; Federal Capital Territory (FCT), N3bn; health, N1bn; labour and employment, N1.093bn; education, N770 million; information and culture, N729m and communications technology, N734m.

The breakdown further showed that the ministry of water resources has N2.387bn; mines and steel, N1.1bn; environment and office of the Secretary to the Government of the Federation (SGF), N735.035m.

As to the sources of the fund, the acting president said in the letter that the N66bn for the ministry of transport would be sourced from the ministries of power, works and housing, science and technology, trade and investment, offices of the National Security Adviser (NSA) and the SGF as well as the transport ministry itself.

The N46bn for the ministry of power, works and housing would be sourced from the projects within the ministry, the letter said.

Similarly, the N1bn for the ministry of agriculture and rural development would be sourced from projects within the ministry, while the N7.698bn for the ministry of interior would be taken from the ministry itself and that of trade and investment. FCT’s N3bn will come from both the ministry and that of trade and investment.

Also, the various amounts to be vired for the ministries of defence, education, labour and employment, information and culture, communications technology, water resources, mines and steel, environment as well as SGF will come from within the ministries.