Speaker of the House of Representatives, Femi Gbajabiamila, has revealed that there is a bill in the House which is looking at creating other sources of funding for the Armed Forces.
Gbajabiamila made the statement on Monday in Abuja at a two-day Capacity Building Workshop/Retreat, organized by the House Committee on Defense. The event was held in collaboration with the Policy and Legal Advocacy Centre (PLAC) and Centre for Strategic Research and Studies of the National Defense College (NDC).
He told newsmen at the event that the Armed Forces require adequate funding with the spate of security threats facing the nation as the budgetary allocation alone is not enough to cater to the military needs.
Meanwhile, he revealed that the House of Representatives is working on another model for funding for the military, besides the budgetary allocation.
He said, “Anywhere in the world, you do not fund your infrastructural gap or security matter simply through the budget.
“This is why there is something called the war fund and we are at war, whichever way you look at it and we have been in it for many years.”
The Speaker of the House added that the security challenges facing the country and the skilful abuse of information technology and the cyberspace had become a threat to the country’s democracy thereby necessitating the workshop.
“It is perhaps this last threat that promises to alter forever the nature of our believed existence,” the Speaker said.