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- President Muhammadu Buhari has sent in a letter to the National Assembly requesting for a Virement approval.
- The president’s proposal was contained in a letter to the National Assembly on Tuesday, in which he seeks a total N180.8 billion in virement for line items in both capital and recurrent expenditures.
- Through virement, the president basically wants to move cash from surplus departments within his government to other departments that are cash strapped.
- “The most viable option now is the virement of appropriated funds from heads or sub heads …,” Mr. Buhari said in the letter addressed to Senate President Bukola Saraki and Speaker Yakubu Dogara.
- According to Premium Times, areas where the president said needed urgent injection of funds include security, intervention programs, education and services.
- The president said there was no point allowing funds to lay idle in some agencies while activities are grounded in others due to financial shortfalls.
- Mr. Buhari said the need for government to augment funds in the federal coffers was caused by renewed militant activities in the Niger-Delta.
- Source: Premium Times