Nigerian President Begins Disbursement of Looted Funds – Fashola

President Muhammadu Buhari of Nigeria has approved the disbursement of funds recovered from looters under the 2018 federal budget.

Minister of Power, Works and Housing, Mr Babatunde Fashola, announced this at the Herbert Macaulay Memorial Lecture at University of Nigeria, Nsukka.

Fashola said the President had approved N120 billion from the funds for the rehabilitation of 36 roads across the country.

The minister also said Nigeria lost its best opportunity for development during the oil boom from 2007 to 2015 to stomach infrastructure.

Fashola said at the lecture organised by Faculty of Engineering of University of Nigeria, Nsukka, that “while other oil producing countries were busy building their nations at a time oil prices were high, the past administration in Nigeria started a different form of development, known as infrastructure of the stomach.

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