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Tinubu seeks Senate’s approval of $7.8b borrowing plan approved by previous government

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President Bola Tinubu on Wednesday asked the senate to approve a new borrowing plan of $7,864,508,559 which was approved by the Federal Executive Council under the immediate past administration of President Muhammadu Buhari
In a letter which was addressed to the Senate President Godswill Akpabio, which he read on the floor of the Senate, Tinubu asked the senate to be aware that the past administration approved the 2022 – 2024 borrowing plan at the federal executive council which was held on the 15th day of May 2023.
In the letter, Tinubu explained that the projects in the borrowing plan cut across all sectors with specific emphasis on infrastructure, agriculture, health, education, water supply, security and employment as well as financial management reforms, among others.
“The total facility of the projects and programmes under the borrowing plan is $7,864,508,559 dollars and then in Euro, 100 million euros respectively.
“The senate is invited to note that following the removal of fuel subsidy and its impact on the economy in the country, African Development Bank (AFDB) and the World Bank Group (WBG) have indicated interest to assist the country in mitigating the economic shores and recent reforms with a sum of $1 billion and $2 billion respectively.
“In addition to the Federal Executive Council approved 2022-2024 external borrowing plan. Consequently, the required approval is in the sum of $7,864,508,559 dollars and in terms of euro, 1000 million euros.
According to the letter, the projects and programmes borrowing plans were selected based on positive technical economic evaluations as well as the expected contribution to the social economic cevelopment of the country, including employment generation, skills acquisitions , supporting the emergence of more enterprenuers, poverty reduction and food security to improve the livelihood of an average Nigerian.
“The projects and programmes will be implemented in all the 36 states of the federation and the federal capital territory . “In view of the present economic realities facing the country, it has become imperative that the resolve to using the external borrowing to bridge the financing gap which will be applied to key infrastructure projects including power, railway , health among others.
“Given the nature of this facilities and the need to consolidate the country to normalcy, it has become exigent to request the senate consideration and approval of the 2022- 2024 external borrowing plans to enable the government deliver its responsibilities to Nigerians through expeditious disbursement and efficient projects implementation.”
The senate Preaident referred the request to the senate committee on Appropriation, Budget and National Planing and committee on Forwign and Local Debts

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Legislature

Senate urges FG to withhold statutory allocation to LGC without elected officials

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Moro, Abba Patrick
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The Senate has urged the Federal Government to henceforth withhold statutory allocation to the Local Governments Councils(LGC) without democratically elected leaders
In the last three months of August, September and October the Local Governments received N702.647b out of N1.006 shared for the three tiers of government in the period under review.
The legality or otherwise of the Federal Governmemt’s power to enforce the Senate’s recommendation is left for legal experts to analyse
The Senate’s recommendation came after debate on the Urgent Need to halt the erosion of democracy: the dissolution of elected Councils in Benue State sponsored by Sen. Moro, Abba Patrick (Benne South)
The senate condemned the arbitrary dissolution of democratically elected Local Government Councils in Benue and other states in Nigeria

It also resolved to urge the Federal Government to review the Benue State governor’s dissolution of the elected councils and constitution of caretaker committees and reinstate the elected council executive forthwith.
The upper legislative chamber urged the governor of Benue state to adhere to his oath of office to obey the rule of law and defend the Constitution of the Federal Republic of Nigeria.

While leading the debate Senator Moro he was dismayed by the dissolution of Democratically Elected Councils in Benue State,

According to him, replacing the elected chairmen with Caretaker Committees to is an aberration and alien to the 1999 Constitution of the Federal Republic of Nigeria (as amended)

Quoting Section (1) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) he said it guarantees a system of local government by Democratically Elected Councils.

He insisted that it is the Constitutional responsibility of every state to ensure the existence of Local
Government Councils by law.

He indicated that there are subsisting court rulings directing the Governor, the House of Assembly, their agents, privies etc not to tamper with the tenure of the elected Councils

He therefore challenged the Governor/Government of Benue State to first appeale the outstanding judgments which has not been done adding that it is against the grain of the rule of law

Senator Adams Oshiomhole (Edo North) pointed out thatabout 16 states in Nigeria are currently without democratically elected council officials.
He urged the Senate to direct the Finance Minister to stop funding LGS without elected council officials.
Oshiomhole’s suggestion was supported by Senator Ali Ndume.
The senator representing Oyo North, Abdulfatai Buhari indicated that the Electoral Act should be amended to empower the Independent National Electoral Commission to conduct local government elections.

The President of the senate Godswill Akpabio also frowned at the establishment of multiple federal agencies but advocated the creation of the National Electoral Commission for Local Government so that governors would no longer have overbearing influence on council polls

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Legislature

Tinubu asks Senate to endorse $8.6bn, €100m loans approved by Buhari’s govt 

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President Bola Ahmed Tinubu has asked the Senate to give him the authorization to borrow $8,699,168,559 and €100 million to carryout critical projects across the country.  

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

Tinubu, in the letter, explained that the request was part of the federal government 2022-2024 external borrowing plan approved by former President Muhammadu Buhari’s administration. 

He said the projects to be funded with the loan cuts across different sectors of the economy, and were selected based on economic evaluation and the expected contribution to the country’s development. 

The letter reads, “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 projects cut 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.”

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Legislature

Niger Coup: Northern Senators ask ECOWAS to lift restrictions on Niger Republic

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***Plead with Tinubu to restore electricity supply to Niger

The Northern Senators Forum on Monday called on President Bola Tinubu to as a matter of Urgency use his position as Chairman of ECOWAS to lift restrictions on Niger Republic in the interest of business and border community
They also demanded that Nigeria restore electricity supply to Niger Republic in line with the Nigeria-Niger treaty mandate.
The senators had in July on the heels of the military forceful take over of the democratically elected government in Niger, cautioned President Tinubu against use of Military power towards tackling the military coup, as they called for diplomatic options.
A communique issued at the end of their emergency meeting which was read by the chairman of the forum, Senator Abdul Ningi (Bauch Central) stated, “The forum on very strong terms condemn the spate of Military intervention in the democratic spaces in the West African subregion.
“The Northern Senators Forum in particular condemns the coup in Niger and urged the military junta in Niger to soften the relationship with the rest of ECOWAS military by setting free President Muhammed Bazoum and his immediate family to freely choose a country of his choice for asylum
They further urged the junta in Niger to bring about a transition time table that will last not more than two years.
They ask ECOWAS to lift restrictions on Niger Republic in the interest of business and border community.
“It is important that Nigeriens should not suffer because of the coup that took place just like we have seen what is happening in Gaza
“We ask the President of the Federal Republic of Nigeria and the Commander in chief of the Armed forces and of course the chairman of ECOWAS, President Muhammed Bola Tinubu to as a matter of humanitarian gesture restore electricity supply to Niger Republic in line with the Nigeria-Niger treaty mandate.
Ningi called on Nigerians and Nigerien to remember that they remain brothers, partners and Africans and above all, we remain human beings

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