Senate approves N10bn loan refund for Kogi state
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Senate approves N10bn loan refund for Kogi state

- A loan refund of N10 billion was on Wednesday, November 13, approved for Kogi state by the Nigerian Senate

- The approval was given after Senator Clifford Ordia, the chairman of the committee on local and foreign loans, tendered the report of the panel to the Senate

- However, the presentation of the report was followed by opposition from the minority leader, Senator Enyinnaya Abaribe, who said that consideration of the report was out of place

During its plenary on Wednesday, November 12, the Senate approved N10 billion loan refund for Kogi state government.

The approval came amidst opposition from the Peoples Democratic Party (PDP) section of the red chamber.

This came after Senator Clifford Ordia, the chairman of the committee on local and foreign loans, tendered the report of the panel to the Senate.

The fund is for payment for projects carried out on the federal government's behalf by state across the country.

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However, the minority caucus in the Senate, led by its leader, Senator Enyinnaya Abaribe, opposed the presentation and consideration of the report submitted by Ordia on the grounds that they are not contained in the order paper of the House.

His position was overruled by Senate president, Ahmad Lawan.

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Abaribe said: “This is not the right time to approve such loan refund. Exigency of the time suggest that we should delay for one week so that the money would not be used for something else.”

Earlier, Legit.ng reported that President Muhammadu Buhari requested the Senate's approval to pay N10.069 billion as settlement of promissory note to the Kogi state government.

Legit.ng gathered that Lawan read President Buhari's letter of request on the floor of the red chamber.

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According to Lawan, Buhari's letter was “requesting for the resolution of the National Assembly on the issuance of N10.069 billion for promissory note programme of Kogi state and a bond issuance to settle inherited debt".

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Source: Legit

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