President Bola Tinubu has asked the Senate to approve a
fresh loan of $8.6 billion and €100 million earmarked for the execution of
vital projects in various sectors of the economy.
Tinubu made this known in a request letter read at the start
of plenary on Tuesday by the President of Senate Godswill Akpabio.
The president elucidated in the letter that his request was
part of the federal government’s 2022-2024 external borrowing plan approved by
former President Muhammadu Buhari’s administration.
He added that projects to be funded with the loans were
determined based on economic evaluation and the expected contribution to the
country’s development.
“I write in respect of the above subject and to submit the
attached the federal government 2022-2024 external borrowing plan for
consideration and early approval of the National Assembly to ensure prompt
implementation of the projects,” Tinubu said in the letter.
“The Senate may wish to note that the past administration
approved a 2022-2024 borrowing plan by the Federal Executive Council (FEC) held
on May 15, 2023.
“The project cuts across all sectors, with specific emphasis
on infrastructure, agriculture, health, water supply, roads, security, and
employment generation as well as financial management reforms.
“Consequently, the required approval is in the sum of
$8,699,168,559 and €100 million.
“I would like to underscore the fact that the projects and
programmes in the borrowing plan were selected based on economic evaluations as
well as the expected contribution to the social economic development of the
country, including employment generation, and skills acquisition.
“Given the nature of these facilities, and the need to
return the country to normalcy it has become necessary for the Senate to
consider and approve the 2022- 2024 external abridged borrowing plan to enable
the government deliver its responsibility to Nigerians.”
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These so called projects no get specific name.. wuruwuru projects
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