‘The Loot Buhari Has Recovered Is Not Enough To Revive Economy’ – Lai Mohammed

lai Mohammed

Minister of Information and Culture, Alhaji Lai Mohammed has stated that the looted funds that have been recovered so far by government is not enough to revive the country’s economy.

The minister said this on Friday when he appeared on a News Agency of Nigeria (NAN) Forum in Abuja.

According to him, the amount of money recovered is always being made public.

“What we have recovered and if my record is right is about N78 billion, and 3 million dollars.

“We have been able to block various accounts in which about 9 billion dollar is found but those are not money available to us because we are still in court over them.

“The government spends N165 billion every month to pay federal civil servants, even what has been so far recovered will not even pay 50 per cent of the salaries in a month.’’

On budget release, he recalled that the Federal Ministry of Finance released N400 billion for capital projects, mostly on roads, railway, and power.

“N400 billion seems a lot, but you must also understand that for three or four years contractors were not paid.

“So, when we paid this money to contractors, they also use part of it to settle their own debt, they use part of it to recall laid off staff.

“But the truth of the matter is that many of them have been paid, they are yet to mobilise to site and they cannot do so until the rains are over.

Mohammed said that what the government owed the contractors was about N2 trillion.

‘The Loot Buhari Has Recovered Is Not Enough To Revive Economy’ – Lai Mohammed on LATEST NIGERIAN NEWS BREAKING HEADLINES NEWSPAPERS.

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