Buhari to Fund 2017 Budget With Recovered Loot

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The federal government is planning to fund part of the 2017 budget with money recovered from treasury looters.

The proposal is contained in the 2017-2019 Medium Term Expenditure Framework/Fiscal Strategy Paper, which is yet to be passed by the National Assembly.

The document said FG is planning to spend of N6.86tn in 2017, with total revenue of N4.16tn.

Government said the N2.69tn deficit would be financed with recoveries from looted funds, the rest would be from borrowings.

The document did not, however, provide details of the amount to be borrowed or the recoveries to be used to finance the budget deficit.

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