Elombah
Take a fresh look at your lifestyle.

Buhari Seeks Senate Approval of $200m World Bank Loan for Lagos

109

President Muhammadu Buhari has sought the approval of a 200 million dollars World Bank loan to Lagos State.

This was stated in a letter read from President Buhari to Dr Bukola Saraki, the Senate president.

Also, Mr President sought the approval of the senate for the confirmation of Babatunde Fowler as the Federal Inland Revenue Services (FIRS) boss and Ahmed Lawan Kuru for Asset Management Corporation of Nigeria (AMCON).

Other nominees for the same position were Kola Ayeye, Eberechukwu Uneze and Aminu Ismael.

Also, Prof. Garba Danbata was also nominated as the Chairman of Nigeria Communications Commission.

The World Bank had, in 2010, offered a Development Police Operation facility worth $600m to the state to be operated in three tranches of $200m per annum.

The President’s request was conveyed in a letter the Speaker, Mr. Yakubu Dogara, read to members on the floor, soon after they resumed from a six-week annual break on Tuesday. 

The letter explained that the request was for the DPO II.

Part of the letter reads, “I seek your support to facilitate the consideration and early approval of the DPO II loan of the US$200m to enable the state to consolidate on the gains of the second tranche of the operation (DPO) II.”

In August, Buhari sent a similar request to the National Assembly in respect of Edo State.

In the case of Edo State, he requested approval for $75m in the second tranche of the total of $225m facility the bank offered Edo State.

The President, in a separate letter read to members on Tuesday, also sought the approval of the legislature to raise Nigeria’s proposed Diaspora Bond to $300m.

However, Buhari explained that the raise was needed to accommodate the “huge amount of capital” required to bridge the infrastructure gap in the country.

He also informed the House that Nigerians in the Diaspora had shown interest in the bond.

Buhari stated, “The purpose of this letter, therefore, is to request approval of the House of Representatives to increase the amount proposed to be raised through the Diaspora Bond from US$100m to a maximum of US$300m.”

© Copyright 2015 www.elombah.com

Send eyewitness accounts/reports/articles to publisher@elombah.com

Follow us on twitter handle @Elombah; Like our Facebook page: “Elombah.com”


© Copyright 2020 ElombahNews.

DISCLAIMER : Opinion articles are solely the responsibility of the author and does not necessarily reflect the views of the publishers of ElombahNews!
Would you like to be receiving ALL ElombahNews links ‘On The Go’ on WhatsApp Or Telegram? If yes, join us here on WhatsApp or Telegram, or provide us your Telephone number via publisher@elombah.com or sms/inbox +2349050382526 and you are good to go!
DOWNLOAD ElombahNews mobile app here
Send eyewitness accounts/ reports/ articles  to publisher@elombah.com; follow us on twitter @ElombahNews; like our Facebook page ElombahNews 

For adverts & inquiries, call +447460770987, +2349050382526

Comments are closed.