President Muhammadu Buhari on Thursday sought the re- consideration and approval of the National Assembly on the 2016-2018 External Borrowing Plan of the Federal Government.<\/p>\n
Buhari\u2019s request is contained in a letter addressed to President of Senate Ahmad Lawan and read at the plenary on Thursday. President Muhammadu Buhari on Thursday sought the re- consideration and approval of the National Assembly on the 2016-2018 External Borrowing Plan of the Federal Government. Buhari\u2019s request is contained in a letter addressed to President of Senate Ahmad Lawan and read at the plenary on Thursday. \u201cRequest for the National Assembly to re-consider and approve […]<\/p>\n","protected":false},"author":7,"featured_media":22681,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,7],"tags":[275,31,276],"class_list":["post-22680","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-borrowing","tag-buhari","tag-nass"],"_links":{"self":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/posts\/22680","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22680"}],"version-history":[{"count":0,"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/posts\/22680\/revisions"}],"wp:attachment":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\u201cRequest for the National Assembly to re-consider and approve the Federal Government\u2019s 2016 and 2018 External Borrowing Plan.
\n\u201cPursuant to section 21 and Section 27 of the Debt Management Office Establishment Act.
\n\u201cI hereby request for resolution of the Senate to approve the Federal Government\u2019s 2016 and 2018 external borrowing plan as well as relevant projects under this plan.
\n\u201cSpecifically the Senate is invited to note that while, I had transmitted the 2016-2018 external borrowing plan to the 8th National Assembly in September 2016, this plan was not approved in its entirety by the legislature.
\n\u201cOnly the Federal Government\u2019s emergency projects, for the North-East\u2019s four states projects and one China Exim Bank assisted railway modernisation project for Lagos-Ibadan segment were approved out of a total of 39 projects.
\n\u201cThe outstanding projects in the plan that were not approved by the legislature are nevertheless critical to the delivery of government policies and programmes relating to power, mining, roads agriculture, health, water and educational sectors.
\n\u201cThese outstanding projects are well advanced in terms of their preparation consistent to the 2016 debt analysis undertaken by DMO and were approved by the Federal Executive Council (FEC) in August 2016 under the 2016-2018 external borrowing plan.
\n\u201cAccordingly, I have attached for your kind consideration, relevant information from the Honourable Minister of Finance Budget and National Planning, the specific outstanding projects under the 2016 -2018 external borrowing plan for which the legislative approval is been sought.
\n\u201cI have also directed the minister to make herself available to provide any additional information or clarification which you may require to facilitate prompt approval of the outstanding projects under this plan.
\n\u201cWhile, hoping that this request will receive the usual expeditious consideration by the Senate, please accept distinguished Senate President, the assurances of my highest consideration,\u2019\u2019 the letter stated.
\nSimilarly, President Muhammadu Buhari, in a separate letter, sought the consideration and passage into law by the Senate, the Companies and Allied matters Act Bill 2019.
\nThe letter states: \u201cPursuant to the Section 58 of Constitution of Federal of Nigeria 1999 as amended I hereby forward the Companies and Allied Matters Bill 2019 for consideration and passage into law by the Senate.
\n\u201cThe Senate may wish to note that in this, bill Section 26 Sub-section 5 of the act has been amended to preserve the powers of the Attorney-General of the Federation (AGF) to approve the registration of companies limited by guarantee.
\n\u201cIt also reflects the ease of doing business principles in Executive Order No 1 of 2017 on the promotion of transparency and efficiency in the business environment.\u201d
\nBy NAN<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"