Politics Ag. President Osinbajo Sends 136bn Virement Request To House Of Reps

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Nigeria's Vice (Acting) President, Yemi Osinbajo has written to the House of Representatives to request for a virement of 1365.6 billion Naira to some critical priority projects in the 2017 budget.

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Osinbajo had on June 12 after signing the 2017 budget said that there was an agreement between the executive and the legislature that a request for virement can be sent later.

This he said was to make up for the decision of the lawmakers to slash allocation for some major projects.

These projects, according to him, include the railway standard gauge projects, the Mambilla Power Project, the Second Niger Bridge, the Lagos-Ibadan Expressway etc. which they had reduced to fund some of the new projects they introduced.

He added that the budgetary allocations would be reinstated by way of an application for virement by the Executive.

“It is as a result of that understanding and the outcome of our detailed engagements that we feel able to sign the 2017 Appropriations Bill into law today,” he said.
 
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