Yar’Adua to spend N352b on amnesty, roads, others – The Nation
November 5, 2009 by Bunmi Awolusi
The Federal Government is willing to spend N352.3billion more – 56 days to the end of the year.
President Umaru Yar’Adua yesterday submitted a Supplementary Appropriation Bill for the endorsement of the House of Representatives. The Senate also got the request.
In the three-page “request for endorsement of Supplementary Appropriation” read by Speaker Dimeji Bankole, Yar’Adua said the request for the Supplementary Budget and the associated financing items were occasioned by some factors, including the urgency of consolidating and sustaining peace in the Niger Delta.
He said that the budget was also informed by the need for strategic interventions geared towards addressing the transitional costs which would accompany envisaged reforms in the downstream petroleum sector as well as meeting additional expenditure needs that have emerged.
The President explained that the proposed expenditure items would be financed from the Federal Government’s portion of the Excess Crude Account, proceeds of the soft loan from the World Bank as communicated in his July 27 letter and issuance of FGN Bonds by the Debt Management Office, as well as balance of unspent funds from the 2009 Appropriation.
