The Vice President, Prof. Yemi
Osinbajo, says the money recovered from
the anti-corruption fight will be used to fund the budget — although some
people have suggested that it should be use to build roads that will be named
‘the anti-corruption road’.
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| Vice President Yemi Osinbajo |
Osinbajo said this on
Monday while addressing a question at the 22nd Nigerian Economic Summit.
“If you look in the 2016
budget, N350bn is the amount we expect to recover so we really have provided
for it. That’s what we are expecting,” he said.
“Of course we have not made
up to that in physical cash. For example, we have about 400 million outstanding
with the US and some money with the Swiss government. The actual figure of what
we have recovered has been made public in the president’s address including
real estate.
“We intend to use that
money in the budget. There is a process, once money comes in, we disburse it
and we account for it. Some people have suggested that we should use the money
to build roads and call it the anti-corruption road.”
While answering the same
question, Udo Udoma, minister of budget, said the government was considering
using recovered money for specific projects.
“It is easy when you know
what you are expecting. We are already considering using that in the 2017
budget because we are already preparing the budget. We are looking into it to
tie the funds from Switzerland to some projects.”
Osinbajo also attributed
the bad state of Nigerian roads to the transportation of heavy materials, which
should be transported by rail.
“We are investing the largest
in rail transportation, we hope that the Lagos-Kano rail will start before the
end of this year.
“We have already set up
counterpart funding, which is a loan from the Chinese. The roads are bad
because we are transporting heavy materials that are supposed to be transported
by rail on them.”
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