THE Nigeria Labour Congress, NLC, and some concerned members of the House of Representatives have expressed optimism that with the revelation so far made on recovered money, the country could fund its annual budget without recourse to external borrowing.
Some members of the House, specifically, argued that if necessary policy measures were put in place through domestication of treaties with developed countries that have served as safe havens for stolen funds and enforcement of extant laws on anti-corruption, Nigeria could recover more looted funds to drive the budget.
Among those that hold this opinion are the Chairman of House Committee on Economic and Financial Crimes, Kayode Oladele, and the National President of NLC, Comrade Ayuba Wabba, who spoke separately in an interview in Abuja.

Read more at: http://www.vanguardngr.com/2017/04/nigeria-can-fund-2017-budget-recovered-loot-reps-nlc/

Sure, but due process must be followed.

Yes unless some cabal wants to re_loot the recovered loot

For this naija! I pray so.

Exactly no need to borrow.

What's funny is Magu doesn't even know how much loot he has recovered.

If it is not relooted!

We are talking about funding a budget of over N6trillion here and I don't think we have recovered up to N1trillion in total from corruption proceeds since the current administration took over. The Rep members and NLC president don't know what they are saying.

ok

Same thing they said during 2016 budget, that there is single project for electorates.

Politicians in Nigeria are nothing but poos.

seunmsg:
We are talking about funding a budget of over N6trillion here and I don't think we have recovered up to N1trillion in total from corruption proceeds since the current administration took over. The Rep members and NLC president don't know what they are saying.

Government propaganda has created this dilemma. By making extraordinary claims about recovering loot, it gives the impression that it must have recovered enough to fund the budget deficit. It is, therefore, difficult to justify its borrowing spree given the outlandish claims the government has been making.

Remember, the loot doesn't have to fund the entire budget. It simply needs to cover the deficit (the difference between spending and revenue).

In other news Buhari wants to borrow to construct railway station. What happened to the recover loot or has it been relooted?

4Play:


Government propaganda has created this dilemma. By making extraordinary claims about recovering loot, it gives the impression that it must have recovered enough to fund the budget deficit. It is, therefore, difficult to justify its borrowing spree given the outlandish claims the government has been making.

Remember, the loot doesn't have to fund the entire budget. It simply needs to cover the deficit (the difference between spending and revenue).

2016 budget had a deficit of over N2trillion and the 2017 budget has a deficit around the same figure. Only extremely ignorant people would think recoveries from corruption can cover such a huge amount. The NLC president and the chairman, house of reps committee on EFCC are supposed to be more knowledgeable than ordinary folks that get carried away by news headlines.

seunmsg:


2016 budget had a deficit of over N2trillion and the 2017 budget has a deficit around the same figure. Only extremely ignorant people would think recoveries from corruption can cover such a huge amount. The NLC president and the chairman, house of reps committee on EFCC are supposed to be more knowledgeable than ordinary folks that get carried away by news headlines.

I agree, only the extremely ignorant believe the government's outlandish claims about money recovered.

Shame you spend most of your time on Nairaland defending the government instead of condemning it for fostering the impression that it has recovered billions of dollars. You act like as if the source of those media headlines is not the government (look at the recent claim to have "recovered" N7trillion via the TSA).

Lol.... Magu is about to be shot on the leg....

Thats the same problem apc had with all the propaganda campaign...

Its a pity he does not even know how much he has recovered...