House of Representatives postpones Buhari’s $22.79bn loan consideration till further notice


The House of Representatives yesterday postpone the deliberation on the $22.79 billion loan request by President Muhammadu Buhari, still further notice.

The Speaker House of Representatives, Hon. Femi Gbajabiamila made the announcement yesterday March 11, 2020 after a member of the House, Mr. Henry Nwawuba presented a petition by a group of South-East elite at the plenary on Tuesday against considering and possibly approving the external loan.

As the loan was listed in yesterday’s order paper and was to be presented by the Chairman on House Committee on Aids, Loans and Debt Management, Hon. Ahmed Dayyabu Safana.

The Speaker Hon. Femi Gbajabiamila however, asked for postponement on consideration of the loan request, without giving a schedule date.

Recollect that the loan request was approved last week by the senate, as against the protest by opposition senators led by the Minority Leader, Enyinnaya Abaribe.

The loan which was to be used to fund the Nigeria Electricity Transmission and Access Project Social Inclusion and Welfare Advancement project, renamed National Social Safety Net Project, and the Economic Reforms and Governance Project, renamed Fiscal Governance Project, will be sourced from the World Bank, African Development Bank, Islamic Development Bank, Japan International Cooperation Agency, German Development Bank, China-Exim Bank and the French Development Agency as gathered.

Updated on March 12, 2020 at 2:15 PM and categorized under Today News Updates

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