The question of what the looted funds being recovered by the present administration are used for has been answered
The federal government has revealed that these recovered funds are used to finance the 2017 budget
President Buhari also said power generation has peaked at an all-time high of 7,001 Megawatts
According to the federal government, part of the stolen funds recovered from those that looted the economy is being used to finance the 2017 budget.
This was disclosed by the accountant general of the federation, Alhaji Idris Ahmed, who represented President Muhammadu Buhari at the 22nd annual conference of the Association of National Accountants of Nigeria (ANAN) in Abuja.
At the conference which held on Tuesday, October 10, he also said the decision had been collectively taken by the government to use some of the recovered stolen funds to finance the 2017 budget.
According to Punch, Buhari said: “My administration has practically done much in delivering on its core focus of diversifying the economy.
“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.”
On the matter of electricity, the president also disclosed that the government was aiming at the production of 10,000 megawatts of electricity by the year 2020.NAIJ