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Recovered N228bn Loot Will Be Used to Fund 2017 Budget – DG

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The Federal Government has said that a total sum of N288.6bn recovered from looters will be used to fuel the 2017 budget.
The Director-General of the Budget of the Federation, Ben Akabueze, stated this at the Old Banquet Hall of the Aso Rock Presidential Villa in Abuja on Monday during the public presentation of the 2017 budget proposals.
Akabueze stated that the recovered loots would be used to fund the 2017 budget.
According to him, the recovered loots “include N97.6bn which is equivalent of ‎$220m expected from the Swiss, part of what is called the Abacha loot recovery.
“Then, it also includes N72bn that has already been received in recent cases of loot recovery.
“And a balance of N90bn other expected recoveries that are at an advanced and reasonable stage that we feel comfortable and confident that they would come through in 2017 and so they have been reflected in the budget.”
Budget and National Planning Minister Udoma Udo Udoma said the National Assembly had the updated 2017-2019 Medium Term Expenditure Framework (MTEF).
“And they (the National Assembly) have the budget. So, everything is with them. So, they will determine how they treat it.
“I am sure the sequence will be they do the MTEF before they do the budget. But everything is with the National Assembly,” the Minister said.

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