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Senate dumps Buhari’s $29.9bn loan request

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Senate dumps Buhari's $29.9bn loan request

The Nigerian Senate, on Tuesday, dumped President Muhammadu Buhari’s 2016-2018 External Borrowing Rolling Plan request of N29.96 billion.

The request was rejected immediately the Senate convened for the day’s business. Leader of the Senate, Senator Ali Ndume moved a motion that the request be considered.

He was supported by the Deputy Minority Leader of the Senate, Senator Emmanuel Bwacha. President of the Senate, Bukola Saraki thereafter, put the question forward whether or not the request should be debated.

When it was put to a voice vote, almost every Senator who was present, shouted ‘nay’. Not certain, Saraki again called for another voice vote. Lawmakers again thundered ‘nay’. Saraki thereafter ruled in favour of those who voted against the loan request.

Read also: LOPSIDED APPOINTMENTS: APC govs put compliant in writing to Buhari

A lawmaker who spoke to Ripples Nigeria, explained why the request was rejected: “The President in the letter said there was an attachment containing the breakdown of the external loan request. But there is no attachment. President Buhari did not attach the breakdown. There is no way we can consider such a request.

“Secondly, the president has not sent Federal Government’s 2016-2018 borrowing plan to the Senate. That ought to have been sent first for consideration and passage before this request. If we consider this request, how do we do that? These are the obvious reasons. There is no political undertone here.”

Last week Tuesday, President Buhari forwarded a request to both chambers of the National Assembly to approve his request to borrow $29.96 billion to finance projects cut across all sectors with special emphasis on infrastructure, agriculture, health, education, water supply, growth and employment generation, poverty reduction through safety net programmes and governance, as well as financial management reforms.
By Ehisuan Odia….

 

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0 Comments

  1. yanju omotodun

    November 1, 2016 at 2:38 pm

    The borrowing plan was dumped because baba buhari didn’t send brown envelopes to each senator for them to concur. If it were to be OBJ or Jonathan, such won’t have happened because they understand what brown envelopes mechanism can achieve. Corrupt senators.

    • JOHNSON PETER

      November 1, 2016 at 2:42 pm

      Don’t judge them . let’s buhari send what they acclaimed he ought to have sent before they can consent to the borrowing plan or not.
      After he has sent all the details and they now refused again, then we can now judge and reprimand them.

    • princewill ebuka

      November 1, 2016 at 3:43 pm

      i agree with you my brother, they are all criminals. Waiting on brown envelopes to approve of a loan that would benefit the country

  2. Olawale james anifowoshe

    November 1, 2016 at 3:23 pm

    Thank God it was dumped, buhari wants to sink us into more debt. Our economy has crumbled and yet baba feels the need to incur more debt.

  3. helen obanor

    November 1, 2016 at 3:28 pm

    They said they’ve executed 65% of the budget and we are still on the look out for what they claim to have done, and now they want to borrow more money. Our leaders have lost it.

  4. princewill ebuka

    November 1, 2016 at 3:40 pm

    This is a political move…. Dumping the request is absurd, they know the importance of this loan and its effect in the country. At the end of the day, all they need is a bargain to ensure their stake in the loan. Criminals

  5. Roland Uchendu Pele

    November 1, 2016 at 4:45 pm

    I thought the loan was supposed to help the country come out of recession, why is the senate being so insensitive?

  6. Nonso Ezeugo

    November 3, 2016 at 4:28 am

    Am getting tired of this buhari loan over this country what pains me most is am not seeing what the loan is for so why are the getting loan when they all know is nothing

  7. Amarachi Okoye

    November 3, 2016 at 4:36 am

    What a corrupt president that take loan for no reason shame on buhari

    • Amaka Okoro

      November 3, 2016 at 4:43 am

      Who told you your president is Corrupt he took the loan for the betterment of everyone so mind what you say

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