Pres. Tinubu Writes Senate, Seeks Approval For Just $8.6bn And €100m Loans

Date: 28-11-2023 7:18 pm (3 months ago) | Author: onuigbo felicia
- at 28-11-2023 07:18 PM (3 months ago)
Online (f)

President Bola Tinubu has sought the Senate approval to borrow $8,699,168,559 and €100 million as part of the 2022–2024 external borrowing plan of the federal government

The president’s request was contained in a letter read at the commencement of plenary on Tuesday, November 28, by Senate President Godswill Akpabio.

In the letter titled: “2022-2024 external borrowing plan”, the president noted that the World Bank and African Development Bank have indicated interest to support the loan with $1billion and N1.5billion respectively.

“I write in respect of the above subject and to submit the attached the federal government 2022-2024 external borrowing plan for consideration and early approval of the National Assembly to ensure prompt implementation of the projects.

The Senate may wish to note that the past administration approved a 2022-2024 borrowing plan by the federal executive council (FEC) held on May 15, 2023.

The project cuts across all sectors, with specific emphasis on infrastructure, agriculture, health, water supply, roads, security, and employment generation as well as financial management reforms.

Consequently, the required approval is in the sum of $8,699,168,559 and €100 million.

I would like to underscore the fact that the projects and programmes in the borrowing plan were selected based on economic evaluations as well as the expected contribution to the social economic development of the country, including employment generation, and skills acquisition.

Given the nature of these facilities, and the need to return the country to normalcy it has become necessary for the Senate to consider and approve the 2022-2024 external abridged borrowing plan to enable the government deliver its responsibility to Nigerians,”
the letter reads.

Posted: at 28-11-2023 07:18 PM (3 months ago) | Addicted Hero
- ficull at 28-11-2023 07:30 PM (3 months ago)
Thief of thieves.
Posted: at 28-11-2023 07:30 PM (3 months ago) | Gistmaniac
- Benti247 at 28-11-2023 09:30 PM (3 months ago)
I swear to God this country NIGERIA will be auctioned  before this man completes his first term.
Posted: at 28-11-2023 09:30 PM (3 months ago) | Gistmaniac
- Dopybadass at 28-11-2023 09:37 PM (3 months ago)
Online (m)
Where did I go wrong oh you God of the universe,why did I come from Nigeria, I thought you said you are a faithful God, please why me Cry
Am tired oh
Posted: at 28-11-2023 09:37 PM (3 months ago) | Gistmaniac
- gogoman at 28-11-2023 11:17 PM (3 months ago)
Good!!!  even for abroad na on credit people dey live!!! therefore keep borrowing!! we go dey borrow!! and return am and borrow!! no shame in borrowing!!! borrow!!!!   I LOVE WOMEN
Posted: at 28-11-2023 11:17 PM (3 months ago) | Grande Master
- Kormeijama at 29-11-2023 09:28 AM (3 months ago)
You see how  recklessly brilliant  and  Tinubu and his caboodle are. Here is  the to-be inaugurated president of Nigeria who instantly approved a 30 billion naira to buy vehicles for his  legislature- is that money not equivalent or  a bit more than what he's borrowing ? Thanks Kagami, Africa leaders   even beg for  things they already have-  the   BEGGING  SYNDROME CULIMNAITNG FORM THE WATON MISUES OF AVAILABLE REOSURCES. Are there no Nigerians  in Nigeria any more to stand up to this thief and tell the  IMF and World bank to refuse these loans . Where are all the Nigerian intellectuals who should be  fighting these blokes  physically or otherwise. Africans must rise  up to the  occasion , rise now and be counted. Do not allow t his shameful  initiative to go through in Nigeria. If Tinubu knew he needed  $8 million dollars for development  of any kind , ask him and his caboodle  thieves  to withdraw the 30 billion naira expended   for the  vehicles of his henchmen in the legislature rather than borrow- Borrowing to buy his yacht and fleet of  new cars and airplanes. Nigeria was finished before now , but  its  now completely FINISHED. 
Posted: at 29-11-2023 09:28 AM (3 months ago) | Gistmaniac