The Minister of Information and Culture, Lai Mohammed, has explained that the looted fund recovered so far by government is a far cry from what the country needs to revive the economy.
The minister said this on Friday when he appeared on a News Agency of Nigeria (NAN) Forum in Abuja.
According to him, the amount of money recovered is always being made public.
“What we have recovered and if my record is right is about N78 billion, and 3 million dollars.
“We have been able to block various accounts in which about 9 billion dollar is found but those are not money available to us because we are still in court over them.
“The government spends N165 billion every month to pay federal civil servants, even what has been so far recovered will not even pay 50 per cent of the salaries in a month.’’
Mr. Mohammed assured Nigerians that every penny recovered will be judiciously spent and nobody could re-loot what had been recovered under the administration.
The minister further explained that Nigerians should understand that what had been recovered was so little compared to what the people needed on a continuous basis.
On budget release, he recalled that the Federal Ministry of Finance released N400 billion for capital projects, mostly on roads, railway, and power.
“N400 billion seems a lot, but you must also understand that for three or four years contractors were not paid.
“So, when we paid this money to contractors, they also use part of it to settle their own debt, they use part of it to recall laid off staff.
“But the truth of the matter is that many of them have been paid, they are yet to mobilise to site and they cannot do so until the rains are over.
Mr. Mohammed said what the government owed the contractors was about N2 trillion.- sahara reporters
MY goodness!!!...wahala dey oh!
Please does anyone know how much it costs to rent a 3 bedroom apartment in lugbe area Abuja. Thanks in anticipation of your response
ReplyDelete1m to 1.5m
DeleteIf you go to amac(haco) estate, you can get for 850- 950k.you pay agent/ agreement 10%.
DeleteIt's depend on how new is de place u want to rent nd de area also, but u should be budgeting like frm 800k upward.
DeleteToh OK o
ReplyDeleteBut I said it before nau . The country has its own bills. Esp civil service and govt parastatals and state allocations. The federation has to keep running. Then any extras can be used for other things. This is why we need to stop looking at the federal Government for funds and start generating funds from within.... A credit I give to the igbos anyday anytime.
DeleteAbeg, we complain too much as citizens. We always WAIT. Wait for government to do this, wait for a company to employ you when you finish school, wait for mummy and daddy to fund your bills until you think you are mature enough to. Wait to enter government office so we can start eating the national cake and helping your family. I think as country we need a total mentality overhaul. I'm sick of the blame on government. My family doesn't have politicians, I have never been involved In government money. My parents aren't civil servants and I'm living well in Nigeria. What's your biz with looted funds? Have you cooked a pot of soup and given to your neighbor whose husband lost her job? NO. Or helped her pay one term fees for her child until they figure themselves out? You will abuse Buhari because they lost their jobs. Yet you're not even giving a tiny solution? Now we wait for Buhari to use all the money to change our lives. Okay. Let's wait.
Nigeria is really in debt and in a tight corner. They should keep up the work in trying to revive back the economy. God help my father's land.
ReplyDeletePG 18
DeleteBut when they were calling billions upon billions looted funds, they dint say all this o! Time to account for the money K leg done enter. My point why cry out loud about refunded loots when you knew it's not as much as the media was reporting? You enjoyed it when media was publishing billions of dollars and naira abi?cos you wanted to score political points. I knew all this would happen soon, let be serious with our county and stop politicking.yhe truth will surly come out someday, cos one lie leads to another and another till it becomes too clear to as a lie
ASHAWO WAS 1's A VIRGIN
Buhari is just clue less and confused. I don't even know what he was thinking when he wanted to rule Nigeria again in this day and age.
ReplyDeleteAs in eh...the info is for what again? To sympathise with APC or Pa Buhari....
DeleteExcuses! Excuses! And more excuses!
ReplyDeleteGood morning to non buhari fans.
This man is so shameless!
ReplyDeleteAm sorry but you all are sick!!!!
ReplyDeleteYour running your mouth coz you can eat,sleep with light, enjoy ac.
I hate you all esp "liar" Mohammad and Buhari.
Bunch of Touts!!!
ReplyDeleteAfter all the Money Gej Left in Office for that herdsman.... He came, Used it to travel upandan, shared it to his fellow herdmen who used their share to aquire ammunitions...
Which Means there's no hope, that the hardship continues. "Hokay" na.
Exactly you have said it all.
DeleteWahala dey , only God can revive Nigeria
ReplyDeleteAkuko!
ReplyDeleteBuhari all your tactics are failing you big time, I tot you said you will do miracle if you become the president. Till now no show.
ReplyDeleteSo where is the magic he promised Nigerians? Nigerians buckle your seat belts because this is going to be a long rough rollercoaster ride.
ReplyDeleteOnly God can revive this country now. Buhari is no magician
ReplyDeleteNigerians can be senseless at times, nothing good comes easy.... Y'all were abusing GEJ and calling him clueless but he is was than clueless. This country was ripped apart by some useless elite and we are neck deep in recession for that. Patience people, patience...... Nothing good comes easy!
ReplyDeleteI tell you!!
DeleteI'm a southerner but Jonathan and co dipped their hands into our Funds without thinking about tmr. Other countries have the next 50 years all figured out. Our own when we saw small increase in oil price - Ah! Na to call our brothers come chop the money. Mscheeew!! I'm not even having this political argument with anyone. Buhari is president till 2019. Case closed. I didn't gain anything from Jonathan, Im not gaining anything from Buhari. I didn't gain anything from OBJ's tenure either. So I can't be bothered. All I pray for is to be able to keep my head up no matter who is in Government. And God always shows himself faithful.
For those of you vindicating Jonathan's administration, I have a simple prayer for you...Mat your lives be run exactly the way Jonathan ran the country during his tenure...chikena
ReplyDeleteAnd may ur life be run the way Buhari is running Nig.
DeleteFor those of you vindicating Jonathan's administration, I have a simple prayer for you...Mat your lives be run exactly the way Jonathan ran the country during his tenure...chikena
ReplyDeleteSo more suffering ahead..smh
ReplyDeleteThis is true Stella... I'm not in support of politucs..but i know my dad retired and started contract biz in 2010.. he got a road project in 2011. You won't believe since 2011 he just got paid 40 percent of the money in april... poor man has been in debt all along... only God's kingdom can solve our problems
ReplyDeleteWas Jonathan not on seat in 2011?? Yet they owed your dad. Abeg...
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