Senate approves Buharis 213bn virement fund request

Ebun Francis

The senate on Tuesday, approved the virement request by President Muhammadu Buhari to fund capital and recurrent expenditures in the 2016 budget. The approved sum by both chambers of the national assembly is N213 billion. The virement fund had earlier been explained by the President in a letter to the national assembly as ‘critical recurrent and capital items’ for execution of key infrastructural projects across the country between 2016 and 2018.

The President had requested for virement of N180.8 billion in the 2016 budget for provision of needed votes for some sectors as well as to “provide for inadequacy in the provision for the National Youth Service Corps in the 2016 budget’’.  In attending to the Presidents request,the House of Representatives increased the virement fund request from N180 billion to N208.821 billion while the senate on its part jacked the sum up to N213 billion.

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