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20
September
2022

Buhari Seeks Senate’s Approval For Four New Loans through N402bn Promissory Notes

President Muhammadu Buhari has asked for Senate approval for the issuance of promissory notes totalling over N402 billion.

The first of such requests read in plenary by the President of the Senate, Ahmad Lawan, was N375 billion meant for settling outstanding claims owed various exporters.

Other similar debts payment requests to be routed through Debt Management Office (DMO ), are N6.706 billion for Kebbi State Government on construction of federal road in the State and N2.706 billion for Taraba State Government for constructing federal roads as well .

President Buhari in another request as read in plenary by President of the Senate, Lawan , also sought for approval of the Senate on issuance of N18.623 billion for Kebbi State Government.

The President in the letter , said payment of N18.623 billion to Yobe State Government through the Debt Management Office , will help the state to offset all monies , expended on execution of five different federal road projects in the state .

The President in the separate letters , sought for expeditious consideration of the requests .

In another letter of request, President Buhari sought for confirmation of appointment of Mohamed Sabo Lamido as Executive Commissioner , Finance and Accounts of the Board of Upstream Regulatory Commission .

Lamido’s appointment as explained by the President in the letter read in plenary by the Senate President, was necessitated by the death of Hassan Gambo who hitherto served in that capacity before his death.

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