House of Reps seats on Buhari’s $22.79Billion loan request Indefinitely

The House of Representatives has pushed forward its decision to grant the $22.79 billion loan request by President Muhammadu Buhari indefinitely.

Hon. Femi Gbajabiamila who is the Speaker of the House, revealed yesterday that a member of the House, Mr. Henry Nwawuba brought a petition by some elites from the southeast region at the plenary on Tuesday against consideration and approval of the external loan.

The loan was listed in yesterday’s order paper and was to be presented by the Chairman House Committee on Aids, Loans and Debt Management, Hon. Ahmed Dayyabu Safana. Femi Gbajabiamila, however, asked for the postponement of consideration of the loan request, without giving a new date after Recall that the loan request was approved last week by the Senate, in spite of protest by opposition senators led by the Minority Leader, Enyinnaya Abaribe.

The loan which is to be used to fund the Nigeria Electricity Transmission and Access Project Social Inclusion and Welfare Advancement project renamed National Social Safety Net Project, and the Economic Reforms and Governance Project, renamed Fiscal Governance Project, will be sourced from the World Bank, African Development Bank, Islamic Development Bank, Japan International Cooperation Agency, German Development Bank, China-Exim Bank, and the French Development Agency.

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