By Sunny Anderson Osiebe
The Senate, on Tuesday, approved the virement request of President Muhammadu Buhari, for the 2016 appropriations funding.
The Senate
passed the supplemental spending Bill in short order. The approval
reflects the Senate’s desire to further assist the nation out of
recession.
The priority
funding area in the approved virement legislation places emphasis on
funding for capital projects as a vehicle to jumpstart the economy
through job creation.
Speaking on the
development, the Senate President, Dr. Abubakar Bukola Saraki, stated
that the Senate believes that the Presidency will target the funding of
local contractors as a way to push more
resources to different areas of the country.
“As we work to
release these special intervention funds for critical recurrent and
capital items, it is important that these contractors have a
track-record of efficient and quality work", he stated.
Saraki also
stated that the Senate would utilize its oversight powers to ensure that
the contracts follow a competitive bidding process, and that the
projects themselves have a positive impact on
the economy of local areas through the economic multiplier effect.
“Moving forward, as
we round out the year,” he said, “The Senate and the Presidency, will
continue to work cooperatively to utilize the 2016 budget as a tool for
economic growth and relief for local
communities.”
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