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The Presidency, has disclosed that the Muhammadu Buhari-led Federal Government, has recovered a total sum of N288.6 billion from the previous regime of ex-President, Goodluck Jonathan.
The Director-General of Budget Office, Ben Akabueze, made the disclosure while fielding questions from Journalists, at the 2017 Budget Breakdown, organised by the Ministry of Budget and National Planning, at the Old Banquet Hall of the Presidential Villa, Abuja, on Monday, December 19.‎
This came as the Minister of Budget and National Planning, Udo Udoma, allayed fears over the non-approval of the Medium Term Expenditure Framework, MTEF, by the National Assembly, before the presentation of the 2017 budget estimates, last week.‎
While speaking, Akabueze said that over N250 billion of the recovered looted funds, is projected to be part of the funds to be used to finance the 2017 budget.‎
‎“We are projecting N258.6 billion looted funds, to be part of the revenue to finance the 2017 budget.

‎“Also to be included in budget financing is $320 million, which is N97.6 billion recovered Abacha loot, expected from the Swiss government.
‎“The balance of N90 billion, will be from other expected recovery loots, which are now at advance stages,’’ Akabueze‎ said.‎
‎In the same vein, Udoma added that the National Assembly, which already has both the MTEF and the budget, would work on them at their own pace, while assuring Nigerians the determination of President Muhammadu Buhari, ‎to pull the nation out of recession.
He said: “With respect to the question about the MTEF, the National Assembly has the MTEF, which has been updated. And they have the budget, so everything is with them. So, they will determine how they treat it. I am sure the sequence will be, they do the MTEF before they do the budget. But everything is with the National Assembly.
“We are determined to bring succor to our people. The only way is by taking strong actions to change the current trajectory of the Nigerian economy.
“To get out of the recession, and bring the country back on the path of growth, government must find the resources to spend on infrastructure, and to spend to reflate the economy”, Udoma said.‎

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