Tag: Nigerian Senate

Senate approves Buharis $16.2bn, 1.02bn loan request

Aminu Imam

The Senate has approved President Muhammadu Buharis loan request for the sum of $16.2 billion, 1.02 billion Euros, under the FG’s 2018-2020 External Borrowing plan. Also approved was a grant component of $125 million (USD), and the request to the Bank of Industries for the issuance of 500 million (Euros) but no more than 750 million Eurobond in the International Capital Market. The Uppwr Chambers approval of the loan requests was, however, accompanied by a resolution that the terms and conditions of the loan from the funding agencies, be forwarded…

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Senate decries Envelope Budgeting, laments abandonment of Ajaokuta Steel Project

Aminu Imam

The Senate has descended heavily on the Executive Arm for forwarding to the National Assembly on yearly basis, envelope budgeting for approval. The Senate expressed this through its Committee on Solid Minerals, Mine, Steel Development and Metallurgy during the Budget defence exercise. It also frowned at the abandonment of the Ajaokuta Iron and Steel Project, through non-provision of required budgetary provisions on yearly basis. Anger of the committee members on the envelope budgeting and abandonment of the Ajaokuta Steel project was triggered by proposed N23.4billion 2022 budget estimates, enveloped for…

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Insecurity, poor economy: Osinbajo, Senators, others hold special prayer session for Nigeria

Aminu Imam

Christian legislators in the National Assembly have elected to hold a special prayer session for Nigeria today, Thursday. The event will also mark the 11th edition of the National Prayer Summit organised by the National Assembly Christian Legislators Forum. Themed: Faith in Jesus Christ in time of crisis, Vice President Yemi Osinbajo is expected at the session with the presiding Bishop of Living Faith Church, Goshen, Abuja, Bishop David Abioye, delivering the keynote address. Briefing newsmen at a press conference, the Chairman of the Forum, Senator Emmanuel Bwacha said the…

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Senate panel rejects Buharis $700m loan request for water project

Aminu Imam

Members of the Senate Committee on Local and Foreign Debt, yesterday kicked against President Muhammadu Buharis $700 million loan request to the National Assembly for Sustainable Urban and Rural Water Supply, Sanitation and Hygiene, (SURWASH), under the Ministry of Water Resources. This is coming 24 hours after the Ministry of Health appeared before the committee to seek approval for $200 million loans for procurement of mosquito nets and Malaria medicines. The lawmakers, who took a turn to fault the SURWASHloan, asked the ministry to furnish the committee with updates of…

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Anger in Senate over health ministrys plan to borrow $200m to buy mosquito nets in 2022

Aminu Imam

The Senate yesterday strongly condemned the proposal by the Federal Ministry of Health to borrow $200 million under the Malaria programme to buy mosquito nets in the 2022 Budget. A member of the Senate Committee on Health, Senator Gershom Bassey made the condemnation during the 2022 budget defence of the Federal Ministry of Health. Bassey pointedly told the Permanent Secretary, Mahmuda Mamman that the proposal with respect to the purchase of mosquito nets was a big issue, expressing concerns that borrowing $200 million was outrageous. The Committees condemnation was in…

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Electoral Bill: ‘Direct primaries not revolt against Govs but to protect federal lawmakers’ interference’ Senate INEC C’tee Chair

Aminu Imam

The Chairman of the Senate Committee on INEC, Kabir Gaya (APC-Kano), has said that the direct primaries clause adopted by the Senate in the proposed Electoral Amendment Bill is not a revolt against State governors but an opportunity to protect legislators from the governors. The senator, who appeared alongside the member of the House of Representatives representing Ikorodu Federal Constituency, Babajimi Benson (APC -Lagos), stated this when he appeared on a television a programme on Tuesday. Recall that the Senate on Tuesday revisited Section 87 (1) of the Electoral Bill…

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Electoral Bill: Senate moves to impose direct primaries on political parties

Aminu Imam

There are indications that the leadership of the Senate has commenced moves to force only the direct method of conducting primary elections on political parties. Part of the moves, according to sources, are plans by the All Progressives Congress, (APC), lawmakers to bring to the floor of the Senate direct primary as an Amendment Bill to be passed, using their numerical strength. The current system allows political parties to use either direct or indirect methods of conducting primary elections. Both chambers have already passed how parties will conduct their primaries, in the…

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Senate denies proposing creation of 20 new States

Aminu Imam

Clarifies its position Aminu Imam The upper chamber of the National Assembly has debunked reports that the lawmakers have proposed the creation of 20 more States, saying that the Senate was grossly misrepresented. The denial followed several media reports yesterday that the Senate has instructed the Independent National Electoral Commission, (INEC), to conduct a referendum for the creation of the new States, saying it reached the decision to respect the genuine desire of Nigerians. However, the Senate’s Spokesman, Ajibola Basiru, representing Osun-Central, in a statement issued yesterday, said the report is a misunderstanding…

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Senate uncover irregularities in FGs N1.1tr investments in financial institutions

Aminu Imam

Senate has exposed irregularities in N1.1 trillion worth of Federal Government investments in a United Kingdom (UK) foreign exchange regulated provider, Crown Agents Bank, and some other financial institutions. Crown Agents Bank is a regulated provider of wholesale foreign exchange (forex) and cross-border payment services connected across the frontier and emerging markets. In the report adopted by the Senate, the Accountant-General of the Federation was accused of failing to present the shares certificate to authenticate the genuineness of Federal Government investments in Crown Agents Bank and financial institutions in Nigeria.…

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Senate exposes how INEC, Army, NSA, others collected N76bn from Accountant-General ‘s office illegally

Aminu Imam

The Upper Chamber of the National Assembly has exposed how the Independent National Electoral Commission, (INEC), Nigerian Army, Office of National Security Adviser and others collected N76 billion from the Office of Accountant-General of the Federation, (OAGF), illegally. The revelation was contained in the 2015 Auditor-General report, which was submitted by the Senate Public Accounts Committee chaired by Senator Mathew Urhoghide, and approved by the Senate. The funds were drawn from 25 percent Husked Rice Levy, 1% Comprehension Import Supervision Scheme (CISS) Pool levy, 15% wheat Grain Levy and 10%…

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