Home Sectors BUSINESS & ECONOMY Buhari Requests N402bn Promissory Notes Approval From Senate

Buhari Requests N402bn Promissory Notes Approval From Senate

2023 Budget: These Are 7 Takeaways From Buhari's Economic Projection

In separate letters to the Senate, President Muhammadu Buhari requested authorization for the issuance of promissory notes to three states totaling more than N402 billion.

The first of these requests, N375 billion, was read aloud in plenary by Senate President Ahmad Lawan and was intended to settle unpaid claims owing to various exporters for the Export Expansion Scheme.

Other similar debt payment requests that had to go through debt management offices included N2.706 billion for the Taraba State Government to build federal roads as well as N6.706 billion for the Kebbi State Government to pay for the construction of federal highways.

President Buhari, in another request as read in plenary by President of the Senate, Ahmad Lawan, also sought the approval of the Senate on the issuance of N18.623b for the Kebbi State.

In the letter, the President claimed that giving N18.623 billion to the Yobe State Government through the Debt Management Office would enable the state to recoup all of the money used to carry out five distinct federal road projects in the state.

The President requested prompt consideration of the requests in the two different letters.

Buhari requested confirmation of Mohamed Lamido’s nomination to the position of Executive Commissioner, Finance and Accounts of the Board of Upstream Regulatory Commission in a separate letter.

According to the President’s letter, which the Senate President read out in plenary, Lamido’s appointment was required because Hassan Gambo, who had previously held that position, passed away.

NO COMMENTS

Leave a ReplyCancel reply

Exit mobile version