Release Recovered Loots Into The Economy, Ekweremadu Tells Buhari


The Deputy Senate President, Ike Ekweremadu (PDP, Enugu West) on Wednesday urged President Muhammadu Buhari to pump the recovered loots into the economy to help get the country out of recession.

According to the Senator who lamented over the lack of money to fund the 2016 budget despite being in the last quarter of the year, suggested that the best thing to do is to increase the budget as to pump more money into the economy.

He said “In the first place, distinguished colleagues, we passed a budget for 2016 and we envisaged the situation we‘ve found ourselves and we believe that the best thing to do is to increase the budget for 2016 so as to reflate the economy.

“But we are almost in the last quarter and yet no releases are being made. I think the best thing to do at this point, your Excellency, distinguished colleagues, is for the government to consciously release as much money as possible into the economy.”

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He then called on the President Buhari to release the loot recovered from TSA, Ex Petroleum Minister and other politicians to help get the country out of recession by paying the contractors.

“Yes, we are saying there is no money; the oil price has dropped but we were also told that through the TSA, we have about N3 trillion somewhere.

“We were also told that the former minister of petroleum returned $20 million. We were also told that politicians have returned several billions of Naira, Dollars and Pounds.

“It is either that this is not true or that the money is somewhere and if it is not true, someone needs to apologize to us and state the correct thing and if it is true, this money has to be released to contractors so that they can go to work and those in the construction industries will be paid and then they will pay the school fees of their children and money will circulate.

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“If we have money in the economy, I am sure that shortly, we will also find some relief,” he said.

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