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+--- Thread: What Happened to the $1Billion Release for Security? Writers War Room (/showthread.php?tid=11575)
What Happened to the $1Billion Release for Security? Writers War Room - Edoman - 11-29-2018
In April this year, the Minister of Defence, Mansur Dan-Ali, disclosed that President Muhammadu Buhari had approved the release of $1 billion to Nigerian Defence authorities for the purchase of security equipment to fight insecurity in the country.
One billion dollars is the equivalent of 360 billion naira. Note that in December 2017, the Ekiti State House of Assembly passed a budget of N96 billion for the state. In February this year, Governor Kashim Shettima of Borno State signed the N181.2 billion budget of the state into law. In the same February of this year, the Anambra State House of Assembly passed the 2018 appropriation bill into law: 170.9 billion naira. This shows that the special fund of 360 billion naira for security is equal to the combined annual budgets of two states.
This amount excludes the statutory allocation to security in the 2018 budget. According to online government watchdog, BudgIT, “In the proposed 2018 Budget, N1.323tn is allocated to security, up from 2017 figures of N1.142 tn.” Note that even though the Presidency proposed a total budget of N8.6 trillion for the 2018 fiscal year, the National Assembly eventually passed a budget to N9.1 trillion... Please click on the link for the full story
http://writerswarroom.com/2018/11/27/what-happened-to-1-billion-released-for-security/