Abubakar Yunusa Ahmad, a member of the House of Representatives Committee on Loans, Aids, and Debt Management, claims federal lawmakers have approved President Muhammadu Buhari’s $800 million loan request.
The legislator, however, contended that the loan would not be used by the Buhari administration, claiming that the next administration will have its own strategy to use the loan.
Ahmad during a Channels Television’s program said, “The $800 million — there were so many talks that we did, especially we in the loan committee and we advised them: ‘First, leave this thing to the incoming government.
“But since the loan has been granted, we can collect. If we cannot use it, maybe when the incoming government comes, they may have a different approach to issues, maybe unlike this government that is there.
“Thank God, I won’t say it clearly but it was on social media that probably they intended not to use any of Buhari’s ministers because they have already taken them to have underperformed.
“So, the issue is, we have granted that loan, it is approved, so we want Nigerians to take it but it is not going to be utilised by this outgoing government. Now, if the incoming government comes, we will see also their own template.”
BizWatch Nigeria recalls that President Muhammadu Buhari urged the Senate to approve a request for a $800 million loan from the World Bank.
The cash, according to the president, would be used to supplement funding for the National Social Safety Net program.
Buhari stated that if the proposal is allowed, N5,000 will be transferred to about 60 million poor Nigerians, stimulating the informal economy and improving health and education.
“Please note that the federal executive council approved an additional loan facility to the tune of $800 million to be secured from the World Bank for the National Social Safety Net programme and the need to request your consideration and approval to ensure early implementation. Copy of FEC extract attached,” Buhari said.
“The senate may wish to know that the programme is intended to expand coverage of shock responsive safety net support among the poor and vulnerable Nigerians. This will assist them in coping with basic needs.
