What Nigeria will use recovered looted funds to do – President Buhari

The Federal Government is using part of the funds recovered from those who looted the treasury to finance the 2017 budget, President Muhammadu Buhari has said.

Buhari, who spoke at the 22nd Annual Conference of the Association of National Accountants of Nigeria in Abuja on Tuesday, was represented by the Accountant General of the Federation, Alhaji Idris Ahmed.

He said the government had resolved to use some of the recovered stolen funds to finance this year’s budget.

Buhari said, “My administration has practically done much in delivering on its core focus of diversifying the economy. Part of the stolen funds recovered is being used by the government to finance the 2017 budget.

“Power generation peaked at an all-time high of 7,001 megawatts in the third quarter of 2017.”

The President also disclosed that his administration was aiming to produce 10,000MW of electricity by the year 2020.