$29.9B FG Loan: FG, Senate Raise Hope To Reach Truce

Posted by African Examiner Featured, Latest Headlines, News Wednesday, November 2nd, 2016

By Niyi Adeyi

ABUJA, NIGERIA (AFRICAN EXAMINER) – Despite rejecting the letter, when it was first read on the Senate floor, the executive and legislature are on the way to agree on the Federal Government (FG) request to obtain $29.9 external loans to execute some capital projects.

While the Minister of Information and Culture Alhaji Lai Mohammed promised that FG would send the information required by the Senators, Senate Leader, Ali Ndume has also pledged he would work on how the request would be revisited.

Senator Ndume after the upper legislative chamber rejected the letter Tuesday at its plenary, addressed journalists and explained that the reason for his colleagues’ action was because it lacked details, which it claimed was attached.

The Senate Leader indicated that President Muhammadu Buhari’s letter read that there was attachment in it, but the Senate could not find any attachment in it, adding that this was the major reason why the letter was turned down.

While addressing State House Correspondents after the weekly Federal Executive Council (FEC) meeting, Information and Culture Minister promised that Mr. President would do the needful.

He added that the details required by the lawmakers would be provided for them, noting that it was not strange for the executive and legislature to disagree and agree on issues.

Alhaji Mohammed promised that the details of the loan would be prepared and resent to the Senate.

It would be recalled President Buhari stated in the letter that the loan is meant to execute some critical capital projects between 2018 and 2019.