Buhari: How We Intend to Fund N6 Trillion Budget

President Muhammadu Buhari has assured Nigerians that by blocking all leakages in revenue generation and eliminating waste, the country will generate enough revenue from internal sources to finance the N6 trillion budget he submitted to the National Assembly last week.

The president spoke in an interview with Mansur Liman of the BBC Hausa service on Christmas eve.

The president said: “As a government, we inherited N1.5 trillion domestic debt and when foreign debt is added, we have about N2.2 trillion. Everybody knows Nigeria is not a poor country, we are rich, and we have human resources. The problem was that the leadership did not take seriously, curbing corrupt tendencies.

“Apart from highlighting our debt profile, we have also shown the changes we have made in the Customs Service. For instance, how much we are making from the Customs Service, how much from petroleum, that is NNPC; how much we are making from the ports.
“There have been lots of leakages in these sectors. If we block these leakages, we would make much more money to run the country despite the fall in the price of oil.”

The president said he believed that once those who are at the helms of affairs in revenue generating institutions shun corruption those working under them would follow suit.

He said: “It is generally believed that a fish begins to rot from the head; once the head is rotten, the whole body is also rotten. We have tried to remove all the heads of the organisations, and most of the lieutenants have been changed.

“A lot is happening in this government that people do not appear to understand; many permanent secretaries of ministries have been changed; we used to have 42 ministers, now we have 36 because the constitution requires that each state of the federation must have a minister. Also, we used to have 42 ministries, now we have 24.”

He explained that his budget was premised on the need to restore peace, build infrastructure and create jobs.

He said: “Remember during the campaigns, we said Nigeria is facing three things and nobody disputed that assertion. Firstly, there was widespread insecurity – a war in the north-east, while the country’s oil was being stolen at random in the south; secondly, there is massive unemployment, 62 per cent of the nation’s population are youths from the age of 35 years downward and most of them are unemployed, including those who went to school and those who did not, that is a serious problem.

“Therefore, it is necessary to restore peace and create employment. That is why we are returning to agriculture and mineral resources.
“Thirdly, bribery and corruption was basically suffocating the country. If we don’t kill these monsters, this country would go down. That is why those who stole monies meant for arms procurement and shared it among themselves are being arrested and are being shown documents so that they would be asked to refund the money or face prosecution.

“We would use those documents to prove what they stole, collect all the assets acquired from the proceeds and then jail them.”
On his plan to pay poor and vulnerable Nigerians N5,000 monthly, the president admitted that it might not be possible for everyone eligible for the stipend to get it.

However, he said the federal government would collaborate with the states and local governments to implement it.

According to him, at the local government level, almost everyone knows one another.

“It would be easy to identify those to give who would go into trading and how to get it back. It would be like a cooperative and we all know how it operates.

“Also, state governments would identify those who have the capacity to employ more people and all we need to do is to empower them. Our people already know how to go about implementing these modalities to create employment for the citizens,” he added.

On the marching order he gave to the military to end the Boko Haram insurgency by December 31 and the likelihood of not meeting that deadline, Buhari said: “I want people to understand that after I settled down and got a good grasp of what the country was going through, we removed all the service chiefs and appointed new ones.

“We also undertook an investigation and found out how the monies meant for arms procurement were diverted and shared by officials in the last administration.

“They sent the boys to the war front without arms and ammunition, leading some of them to mutiny after which they were arrested and detained.

“We have been able to raise money and fund the war. Go and ask the people of Borno, Yobe and Adamawa, how many of their local governments were under the control of insurgents? And how many are currently still under the insurgents.

“May be we would not win the war completely by the end of the month, but the insurgents have now resorted to putting on explosive vests on young children, mostly girls aged 15 and below and then sending them to markets, mosques and churches to detonate.

“Boko Haram itself knows that the era of them taking over communities and local governments is over. If people would be fair to us, they would know that the Nigerian Army has basically met the deadline and are winning the war.

“You cannot find any significant number of Boko Haram members in Adamawa and Yobe, only may be in about three local governments of Borno, in the area around our borders with Chad Republic. They are not in a position to threaten Nigeria now, so we have won.”

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