The executive arm of government had yet to furnish the Senate with details and breakdown of projects expected to be executed with the N850bn domestic loan request of the President, Muhammadu Buhari. ABN TV reports
The red chamber had last week Tuesday given accelerated approval to the loan request expected to be sourced from the local capital market, despite not having details of the official communication.
The President of the Senate, Ahmad Lawan, had after the express approval, directed the relevant committees of the Senate to liaise with the Ministry of Finance concerning details of the loan request.
Attempts by our correspondent to speak with the chairmen of the Senate committees on Appropriation and Finance, Messrs Barau Jibrin and Solomon Adeola, failed on Tuesday.
Read Also: Dusk-To-Dawn Curfew: Police Arrests 42 Violators, Impounds 8 Vehicles In Anambra
Phone calls to their mobile lines did not connect while none of them had replied the text messages sent to them as of the time of filing this report.
However, the Chairman, Senate Committee on Special Duties, Senator Yusuf Yusuf, confirmed to our correspondent that details of the loan request had not been sent to the Senate.
Yusuf said, “We are still expecting the official communication from the Presidency. What we did was to approve the N850bn borrowing request from the domestic capital market to restructure the budget which is still coming to the National Assembly. We are still waiting for it.
“Details of the outlook of the budget is still being expected and we hope it will include the N500bn SIP request.
“The N850bn is borrowing from the domestic capital market while the N500bn, which is different, would be squeezed from the system.”
The Labour Party (LP) has dismissed the video making the rounds in social media that…
The immediate past governor of Abia State, Okezie Victor Ikpeazu, has called on Nigeria and…
The federal government will monitor the legal proceedings and provide further updates on the case…
UNIBEN Best Graduating Students get N1 million Prize The Osasere Osifo Prize for Academic Excellence…
The committee set up by the Edo government to recover government assets says over 200…
Victor Boniface of Bayer Leverkusen will miss "a few games" following his return from international…