Why I need approval of N135bn virement — Osinbajo tells Senate

Acting President Yemi Osinbajo on Tuesday requested the approval of Senate for virement of N135,643,018,749 from the 2017 Appropriation Act.

The virement request was part of the agreement reached by the Acting President and leadership of the National Assembly prior to the signing of the N7.441 trillion 2017 budget into law.

In a letter dated 18th July, 2017 and addressed to Senate President Bukola Saraki, Osinbajo explained that the funds will be used for implementation of “some critical priority items for which adequate provisions had not been made in the 2017 Appropriation Act”.

The letter was read by Deputy Senate President Ike Ekweremadu, who presided over Tuesday plenary.

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According to Osinbajo, the sum of N46,004,049,292 is to be vired within projects of Federal Ministry of Power, Works and Housing while N66 billion is to be vired within projects of Federal Ministry of Transportation.

Sources of the virements include: N33.247 billion from Ministry of Transportation; N3,181,973,545 from Federal Ministry of Power, Works and Housing; N14,130,719,780 from Office of the Secretary to the Government of Federation; N5 billion from Office of the National Security Adviser; N5,009,244,926 from Federal Ministry of Science and Technology and N5,494,065,749 from Federal Ministry of Trade and Investment.

Also, the sum of N1 billion is to be vired within projects of Federal Ministry of Agriculture and Rural Development; N7,698,811,674 from Federal Ministry of Interior and N80,500,000 from Federal Ministry of Trade and Investment; N3.150 billion from Federal Ministry of Defense; N770 million from Federal Ministry of Education; N1.7 billion from Federal Capital Territory Administration and N1.3 billion from Federal Ministry of Trade and Investment.

He also listed other sources of virement to include: N1 billion from Federal Ministry of Health; N735,035,00 from office of the Secretary to the Government of the Federation; N1,093,579,983 from Federal Ministry of Labour and Employment; N729 million from Federal Ministry of Information and Culture; N734 million from Federal Ministry of Communication and Technology; N2,387,541,000 from Federal Ministry of Eater Resources; N1 billion from Federal Ministry of Mines and Steels Development; N241,001,800 from Federal Ministry of Environment, respectively.

The Acting President also requested the upper legislative chamber to approve the statutory budget proposal of the Federal Capital Territory (FCT) 2017 budget of N222 billion.

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