The Federal Government has revealed that it is using part of the stolen funds recovered from those that looted the economy to finance the 2017 budget.
This was disclosed in Abuja, on Tuesday, by President Muhammadu Buhari at the 22nd Annual Conference of the Association of National Accountants of Nigeria (ANAN).
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.
“My Administration has practically done much in delivering on its core focus of diversifying the economy,” he stated.
“Part of the stolen funds recovered is being used by government to finance the 2017 budget.”
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.
Buhari also disclosed that his administration was aiming at the production of 10,000 Megawatts of electricity by the year 2020 insisting that power generation was increasing.
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