$30bn loan: Senate Rejects Buhari’s Request

Yesterday, the Senate unanimously, threw out President Muhammadu Buhari’s request for external loan of $29.96 billion to execute key infrastructural projects across the country between 2016 and 2018 because the letter was not accompanied with a borrowing plan. However, the Presidency, in a swift reaction by Senior Special Assistant to the President on National Assembly Matters, Senator Ita Enang, said,the Senate will be provided all the needed documents and borrowing plan.

The Leader of the Senate, Senator Ali Ndume, moved a motion that the request be considered and his motion was seconded by the Deputy Minority Leader of the Senate, Senator Emmanuel Bwacha. The Senate President, Bukola Saraki who presided over the plenary, put the question forward whether or not the request should be debated. The Senate President, thereafter put it to a vote and the nays had it. Senator Saraki who was surprised and apparently out to give President Buhari a soft landing, decided to put it to a vote the second time and the Senators again thundered ‘nay’ and the Senate President had no option than to rule in favour of those who voted against collecting the loan.
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