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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.
The Senate, on Thursday, approved the nomination of Professor Joash Ojo Amupitan as the new Chairman of the Independent National Electoral Commission (INEC).
The confirmation of Amupitan followed a screening session by lawmakers in the Senate Chamber during a Committee of the Whole.
Lawmakers asked many questions during the session, which Amupitan responded to.
After the screening exercise, the nominee was permitted to take a bow and exited the Senate chambers with a promise that the decision of the lawmakers would be conveyed to him.
After the exit of the INEC Chairman-designate and entourage, the Senate Leader, Opeyemi Bamidele, moved a motion to restore all floor privileges earlier suspended.
The motion was seconded by the Minority Leader and approved by the lawmakers when it was put to voice vote.
Thereafter, Senate President Akpabio approved nomination of Amupitan for appointment as the chairman of the Independent National Electoral Commission (INEC) when it was put to voice vote.
“The nomination of Joash Ojo Amupitan for appointment as the Chairman of the Independent National Electoral Commission is hereby confirmed,” Akpabio said.
During the screening session, Amupitan promised: “No voter will be left behind,” adding: “We will invest in logistics and technology — and where necessary, deploy drones with adequate safeguards — to ensure election materials and personnel reach every part of Nigeria safely and on time.”
Amupitan, a Professor of Law and former university administrator, said he is determined to modernise operational framework to ensure inclusivity and efficiency.
He assured lawmakers that his administration would work closely with the Joint Committee on Election Security to address threats that hinder smooth electoral operations, particularly in hard-to-reach or conflict-prone areas.
Beyond technology, Amupitan emphasised voter and civic education as the cornerstone of credible elections. He said INEC under his watch would embark on an extensive national enlightenment campaign to improve understanding of democratic processes among citizens.
“We will embark on aggressive civic and voter education across the country,” he said. “INEC will build the capacity not only of its staff but also of all election stakeholders — including political parties, their members, civil society organisations, and the electorate.”
He said the Commission would perform this role as mandated by Section 2 of the Electoral Act, which assigns INEC the responsibility of educating citizens on electoral procedures and democracy.
According to him, strengthening stakeholder knowledge would help reduce election-day irregularities and foster citizens’ confidence in the process.
“When people understand the process, they are less likely to be manipulated or discouraged. Our goal is to build an informed electorate that participates fully and freely,” he noted.
Amupitan also reaffirmed his commitment to transparency, integrity, and accountability, adding that INEC would strictly comply with existing financial and procurement laws to ensure judicious use of public funds.
“We will enforce all financial laws to the letter,” he said. “Every kobo released to the Commission will be used for the purpose for which it is appropriated.”
Kenyan opposition leader, Raila Odinga, has died at the age of 80 during a health visit to India, local police said Wednesday — a political earthquake that could transform politics in the East African nation.
Odinga was the perennial opposition figure of Kenyan politics, running unsuccessfully for the presidency on five occasions, most recently in 2022.
He remained a dominant force, able to rally huge numbers, particularly from his native western Kenya.
Indian police told AFP he was walking with his sister, daughter, and a personal doctor “when he suddenly collapsed”.
“An Indian police security officer and a Kenyan security officer were also with them at the time. He was rushed to a nearby private hospital, but was declared dead,” the police source said.
Odinga’s death was also confirmed to AFP by a member of his political team, but they requested anonymity while awaiting an official announcement from the party.
Born on January 7, 1945, Odinga spent his early years in politics either in jail or in exile, fighting for democracy during the autocratic rule of President Daniel arap Moi.
A member of the Luo tribe, he entered parliament in 1992 and ran unsuccessfully for the presidency in 1997, 2007, 2013, 2017, and 2022, claiming to have been cheated of victory in the last four elections.
He cast himself as an anti-establishment firebrand despite belonging to one of Kenya’s top political dynasties — his father serving as the country’s first vice president after independence in 1963.
His death leaves a leadership vacuum within the opposition, and it is far from clear if anyone will have the same ability to mobilise opposition forces as the country heads into a potentially volatile campaign period ahead of elections in 2027.
Kenya’s former chief justice, and current presidential candidate, David Maraga, said he was “shocked” by news of the death.
Odinga was “a patriot, a pan-Africanist, a democrat and a leader who made significant contributions to democracy in Kenya and in Africa,” Maraga wrote on X.
“Kenya has lost one of its most formidable leaders who shaped the trajectory of our beloved country. Africa has lost a leading voice in pushing for peace, security, and development. The world has lost a great leader,” he added.
Ethiopian Prime Minister Abiy Ahmed was among the first to react, posting on X:
“On behalf of the Government of Ethiopia, I extend my sincere condolences on the passing of former Kenyan Prime Minister Raila Odinga. May he Rest In Peace.”
A spokesman for the Sreedhareeyam Ayurvedic Eye Hospital and Research Centre in Kerala, India, also confirmed the death.
“He experienced some breathing difficulties and collapsed. He was provided CPR on the spot, and having seen some sign of recovery, he was rushed to the nearest modern hospital. Despite repeated efforts by the medics, his condition deteriorated and the doctors were unable to save him,” the spokesman said.
AFP
Governor Douye Diri of Bayelsa State has formally resigned from the Peoples Democratic Party (PDP), ending months of speculation about his defection to the ruling All Progressives Congress (APC).
Diri’s resignation was confirmed on Wednesday, by his spokesman, Daniel Alabrah.
The governor’s decision came alongside that of 23 members of the Bayelsa State House of Assembly, who also announced their exit from the PDP.
According to reports, all is now set for Governor Diri and the lawmakers to officially pitch their tent with the APC.
