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Buhari Resends Request for $29.96bn Loan to Senate
President Muhammadu Buhari on Thursday re-sent the $29.96bn 2016-2018 external borrowing plan to the Senate for its consideration and approval.
Buhari made the request a day after the International Monetary Fund warned Nigeria against rising debts. The Debt Management Office has said out of Nigeria’s total debt profile of N25.7tn as of June 2019, external borrowing accounts for about 32 per cent while the 68 per cent is domestic.
The President’s financial plan was approved by the Federal Executive Council in August 2016 and sent to the 8th Assembly in September 2016.
The leadership of the federal parliament led by Senator Bukola Saraki and Yakubu Dogara, invariably rejected the request in November 2016.
Buhari had asked the 8th Assembly to approve plans to borrow the amount abroad to fund infrastructure plans from 2016 to 2018.
The President of the Senate, Ahmad Lawan, who read the fresh request sent by Buhari during plenary, did not give details of the executive communication.
In the letter, dated November 26, 2019, Buhari said the 8th National Assembly approved only a part of the External Borrowing request forwarded to it in September 2016.
This, according to him, stalled the Federal Government’s implementation of critical projects spanning across the mining, power, health, agricultural, water and educational sectors.
The letter reads, “Pursuant to Section 21 and 27 of the Debt Management Office (Establishment) Act, I hereby request for Resolutions of the Senate to approve the Federal Government’s 2016 – 2018 External Borrowing plan, as well as relevant projects under this plan.
“Specifically, the Senate is invited to note that: While I had transmitted the 2016-2018 External Borrowing Plan to the 8th National Assembly in September, 2016, this plan was not approved in its entirety by the Legislature.
“Only the Federal Government’s Emergency projects for the North East, (Four (4) States’ projects and one (1) China Exam Bank Assisted Railway Modernisation Projects for Lagos – Ibadan Segment) were approved, out of a total of thirty-nine (39) projects.
“The Outstanding projects in the plan that were not approved by the Legislature are, nevertheless, critical to the delivery of the Government’s policies and programmes relating to power, mining, roads, agriculture, health, water and educational sectors.
“These outstanding projects are well advanced in terms of their preparation, consistent with the 2016 Debt Sustainability Analysis undertaken by the Debt Management Office and were approved by the Federal Executive Council in August 2016 under the 2016 – 2018 External Borrowing Plan.
“Accordingly, I have attached, for your kind consideration, relevant information from the Honourable Minister of Finance, Budget and National Planning the specific outstanding projects under the 2016 – 2018 External Borrowing plan for which legislative approval is currently sought.
“I have also directed the Minister to make herself available to provide any additional information or clarification which you may require to facilitate prompt approval of the outstanding projects under this plan.”
According to the President’s letter, the total cost of implementing the projects is $29.960bn consisting of a Projects and Programme loan of $11.274bn.
Others are, Special National Infrastructure Projects of $10.686bn, Euro Bonds of $4.5bn and Federal Government Budget Support of $3.5bn.
The letter also revealed that the projects and programmes were selected after positive technical economic evaluation and presumed contribution to the socio-economic development of the country.
The projects he said, would be implemented across the 36 States of the Federation and the Federal Capital Territory.
The President explained that it was necessary to resort to external borrowing to fund the financial gap required to address the huge infrastructural deficit in the country such as power, railway, road projects and assured lawmakers of its resolve to implement the projects in a financially sustainable manner.
The President also admitted that the World Bank had provided the sum of $575m for the purpose of reconstructing and rehabilitating the North East.
He said the amount, which was outside the 2016-2018 External Borrowing Plan had been earmarked for urgent implementation in the region.
Some of the areas of intervention according to him are, Polio Eradication support and routine immunization project- ($125m); Community and Social Development Project ($75m).
Others are the Nigeria States Health Programme Investment project ($125m); State Education Programme Investment Project ($100m); Nigeria Youth Employment and Social Support Project ($100m) and the Fadama III Project ($50m).
The President therefore urged the Senate to immediately approve the $575m grant by the World Bank to enable its immediate disbursement before further consideration and authorization of the 2016-2018 borrowing plan.
Senator Natasha Akpoti-Uduaghan has once again brought before the Senate a petition alleging sexual harassment from Senate President Godswill Akpabio. But this time, it was signed by her constituents.
During the plenary on Thursday, Senator Natasha was asked whether the matter was already before any court of law. But she said it was not. Following protocol, the lawmaker was directed to formally submit the petition, after which it was referred to the Senate Committee on Ethics, Privileges, and Code of Conduct for investigation.
The committee has been given four weeks to conduct its probe and report to the Senate.
This marks the second time the Kogi Central lawmaker has raised the allegation in the chamber. A previous petition was dismissed on Wednesday owing to procedural irregularities.
During the plenary on Thursday, Senator Natasha was asked whether the matter was already before any court of law. But she said it was not. Following protocol, the lawmaker was directed to formally submit the petition, after which it was referred to the Senate Committee on Ethics, Privileges, and Code of Conduct for investigation.
The committee has been given four weeks to conduct its probe and report to the Senate.
This marks the second time the Kogi Central lawmaker has raised the allegation in the chamber. A previous petition was dismissed on Wednesday owing to procedural irregularities.
Former Senate President, Bukola Saraki, has said that the senate is an institution that needs to be protected, not an individual.
This was revealed on his X handle on Saturday in the aftermath of the ongoing backlash of the allegation of sexual harassment made by Senator Natasha Akpoti-Uduaghan on Arise TV in an interview against Senate President, Godswill Apkabio.
Akpabio’s wife filed a lawsuit against Senator Natasha at the Federal Capital Territory High Court, Abuja over alleged defamation and violation of her husband’s fundamental human rights.
Saraki expressed sadness over the development as he stated that the incident is already hurting the integrity, sanctity, image and public perception of the Senate as an institution.
“I believe that every person who has had anything to do with the National Assembly, particularly as a leader, member and worker should always jealously protect these values which make the institution, the numero uno among the three arms of government,” he said.
Saraki urged the two parties to sheath their swords and warned that supporters of both parties should be mindful of the impacts of their actions.
He advised that the instruments of law and parliamentary conventions should be adhered to in resolving the issue on the ground. He also called for an investigation of the matter by the Senate Committee on Ethics.
“At this point, with the public claims made by the Senator, the right measure to take is to institute an open, transparent and honest investigation by the Committee on Ethics, Privileges and Public Petitions,” he said.
“Both parties must submit to the investigation, fully cooperate with the committee, and stake their claims before it. This is not the first time a Senate President would appear before the Committee to aid it in the conduct of a transparent and open investigation.
“For me, the institution of the Senate is so important, sacred, and pre-eminent. All lovers of democracy should always work to strengthen it. No leader or member should be allowed to openly or surreptitiously work to subvert its sanctity.”
Former Vice President Atiku Abubakar has called for a thorough and impartial investigation into the explosive allegations of sexual harassment, intimidation, and mistreatment levelled against Senate President Godswill Akpabio, by Senator Natasha Akpoti-Uduaghan.
In a statement shared on his official Twitter handle on Friday, Atiku stressed that the gravity of these claims demands immediate and transparent action.
“Like millions of Nigerians, I watched with deep concern this morning as Senator Natasha Akpoti-Uduaghan raised serious allegations of sexual harassment, intimidation, and mistreatment against the Senate President, Godswill Akpabio,” Atiku said.
He talked about the need for a credible investigation to protect the integrity of the Nigerian Senate and uphold the values of justice and accountability.
“These allegations are grave and deserve a thorough, impartial, and transparent investigation,” he stated.
Atiku reminded Nigerians that the Senate, as the legislative arm of government, represents the people’s voice.
“For that reason, its leaders must embody integrity and respect for the offices they hold.
“As the third most powerful figure in the country, the Senate President should embody unimpeachable character,” he added.
Beyond the political implications, Atiku highlighted the far-reaching impact of sexual harassment on women’s participation in governance and national development.
“Sexual harassment in the workplace is a significant barrier to women’s advancement and, by extension, the nation’s progress. Allegations of such misconduct should never be simply dismissed, particularly when they involve a public officer with immense power, influence, and responsibility,” he said.
Atiku warned that how this case is handled will send a strong message about Nigeria’s commitment to justice, fairness, and gender equality.
The former VP also pointed out the urgent need to create a safe and supportive environment for female legislators, especially given their underrepresentation in the Senate.
“With only four women currently serving in the Senate, it is imperative that we foster an environment where female legislators can serve without fear of harassment or intimidation,” he said.
The allegations by Akpoti-Uduaghan have sparked widespread reactions across the country, with civil society organizations and gender rights advocates demanding swift and decisive action.
