After weeks of lobbying and behind the scene manouvers, the Senate on Thursday approved the nearly $23 billion loan being sought by President Muhammadu Buhari for infrastructural projects.
\nTha approval came with a caveat by the Upper House: it will take responsibility for the use of the funds to ensure it is used as stated, according to the President of the Senate, Ahmad Lawan.
\nThe loan was a thorny issue in the last Senate and was a major source of rift between the Senator Bukola Saraki-led Senate and the Presidency.
\nBut Thursday’s plenary was not without attempts by the minority Peoples Democratic Party (PDP) to filibuster and push for each component of the loan to be passed individually as desired rather than a wholesome approval of the $22.79 billion.
\nAs Lawan moved to subject the two recommendations in the report to vote and approval, the Minority Leader, Senator Enyinnaya Abaribe raised a point of order.
\nAbaribe said that it would be necessary to subject the various components of the loan to voting, especially the amounts and the lending countries.
\nBut Lawan insisted on voting on only\u00a0 the two recommendations contained in the report.
\nAbaribe was not done and replied, \u201cWe are going to pass a loan of $22.7billion for which we are being denied the privilege to express our reservations. You are putting us in a very impossible position.
\n\u201cThere are some aspect of this loan that we object to. I want to ask on behalf of our colleagues here that we take these items one by one and vote on them.\u201d
\nLawan in his response said: \u201cYou have not been denied of your privilege.
\n\u201cI don\u2019t want the discussion on this loan to degenerate into partisanship. My action was was not an attempt to muzzle you.\u201d
\nTo which Abaribe said, \u201cI want to quote one popular saying that he who goes a borrowing, goes a sorrowing”.
\nSenator Gabriel Suswam immediately said that he also had some objections and information on an aspect of the loan that relates to power projects in the report which he did not want to raise in the open chamber.
\n\u201cThere are contentious issues in this report. I want to appeal that we go into an executive session for 10 minutes after that we can conclude proceedings on this report,\u201d Suswam said.
\nLawan who earlier kicked against\u00a0 an executive session, later accepted it.
\nThe Senate went into a closed-door session as soon as Minority Leader, Enyinnaya Abaribe, pushed the line of thought.
\nIt appeared resolved away from the listening ears of the public gallery before the decision was made public.
\nLawan later assured Nigerians that the National Assembly will take full responsibility for the application of President Muhammadu Buhari\u2019s $22.79 billion loan request to various projects domiciled with Federal Ministries, Departments and Agencies of government.
\nHe expressed optimism that the loan will turn around the economic fortunes of the nation, said its strict application to relevant projects will be supervised by Committees of the National Assembly.
\n\u201cLet me emphasis here, that we are going to follow very strictly how these funds are applied by the executive arm of government.
\n\u201cOur Committees must be prepared to ensure that no single dollar or cent is spent on any other thing outside of what has been indicated here.
\n\u201cWe pray that this loan will turn around the economy of Nigeria. It is our belief that this loan will definitely have some positive influence on the Gross Domestic Growth (GDP) of this country, and therefore, we want to assure Nigerians that as a Chamber of the National Assembly, we will be responsible and ensure that no funds approved here are utilized for something else or used in uneconomic or imprudent manner.
\n\u201cThis is our responsibility and we will ensure we do that\u201d, the Senate President assured.
\nThe unanimous approval came sequel to the adoption of the recommendations of the Committee on Local and Foreign Debts which was considered during plenary.
\nThe decision to adopt the committee\u2019s recommendations was reached during a closed session which lasted 40 minutes to deliberate on the projects for which the loan was being sought.
\nMoments before the closed session, some lawmakers objected to the consideration of the committee\u2019s report after it was presented by the Chairman, Senator Clifford Ordia (PDP \u2013 Edo Central).
\nSenator Adamu Aliero (APC \u2013 Kebbi Central), posited that members of the upper chamber be availed the opportunity of studying the report for consideration ahead of Tuesday next week.
\nSenator Bassey Albert Akpan (PDP \u2013 Akwa-Ibom North East) also shared the suggestion put forward by Aliero.
\nThe Senate President, however, attempted to sway his colleagues explaining that it is the Senate\u2019s prerogative to discuss the report first before it is dissected by members of the public.
\nOther lawmakers such as Senators Gabriel Suswam (PDP \u2013 Benue North East); and Olamilekan Adeola (APC \u2013 Lagos West) insisted that the report be considered immediately on the floor.
\nMidway through consideration of the report, Minority Leader, Enyinnaya Abaribe, in an attempt to register his objection to the adoption of the Committee\u2019s recommendation came under order 43 of the Senate Standing rules.
\nThe Senate President asked Abaribe to read the provisions of the order.
\nSenator Abaribe, who read the order in part, was further asked by the Senate President to read it in full.
\nThe order on Personal Explanation reads: \u201cBy the indulgence of the Senate and the leave of the President of the Senate, a Senator may make a Personal Explanation although there be no question before the Senate; but no controversial matter may be brought forward nor may debate arise upon the Explanation.
\n\u201cThe terms of the proposed statement shall be submitted in detail to the President of the Senate when his leave to make it is sought.\u201d
\nOn the basis of the order, Abaribe was overruled by Senator Lawan for his failure to comply with the provisions of the standing order which requires that any matter to be brought to the floor must first be discussed with, or submitted in writing to the Senate President.
\nRising under order 11, Abaribe again expressed his frustration citing breach of privilege.
\nThe lawmaker\u2019s insistence met another brick wall as the Senate President took up the lawmaker for attempting to polarize consideration of the report along party lines.
\nLawan, at this point, prevailed on lawmakers to put the interest of the nation ahead of partisanship in the interest of Nigerians.
\nLawmakers such as the Senate Leader, Yahaya Abdullahi and Gabriel Suswam, who instantly threw their weights in support of the Senate President, suggested that consideration of the projects for which the loan is being sought by President Buhari be looked into at a closed session.
\nThe Senate, thereafter, held a closed session, after which President Buhari\u2019s loan request was unanimously approved.
\nSectors to benefit from projects captured are: Transport sector – the Lagos-Kano Railway Modernization Project; Ibadan-Kano Segment Double Track to cost $5,530,000,000; Railway Modernization Coastal Railway Project (Calabar-Port Harcourt-Onne Deep Sea Port Segment) to cost $3,474,000,000.
\nFor the Federal Capital Territory, projects captured are: Greater Abuja Water Project to cost $381,095,037; and Abuja Mass Rail Project at $1,252,293,005.
\nDevelopment of Nigeria\u2019s mining industry project is pegged at $150,000,000; Nigerian Television Authority Digitalization Project to cost $500,000,000; East- West Road Project under the Niger Delta Affairs Ministry, $800,000,000; Education Sector Reform Programme renamed Better Education Service Delivery for All (BESDA) at $500,000,000.
\nOther projects include: National Information and Communication Technology Infrastructural Backbone by Galaxy Backbone (Phase II), $328,108,731; Agricultural Transformation Project II (ATASP), $200,000,000; Staple Crops Processing Zone Support Projects (SCPZs), $500,000,000.
\nProjects under Water Resources Ministry are: Lake Chad Basin Commission, $13,000,000; Integrated Programme For Development and Adaptation to Climate Change in the Niger Basin, $6,000,000; North East Nigeria Integrated Social Protection, Basic Health, Education, Nutrition Services and Livelihood, &100,000,000; and Rural Water Supply and Sanitization, $150,000,000.
\nIn the Ministry of Health, the Regional Surveillance System Enhancement Project in West Africa will cost $90,000,000.
\nProjects under the Power Sector are: the Nigeria Electricity Transmission and Access, $364,000,000; Power Transmission Project, $200,000,000; TCN overall Transmission System Enhancement Project, $200,000,000; Vocational Training in the Power Sector, 50,000,000; and Mambilla Hydro Electricity Power Project, $4,800,000,000.
\nThe Social Inclusion and Welfare Advancement Project under the Ministry of Humanitarian, Disaster Management and Social Development is budgeted to cost $500,000,000; Rehabilitation and Reconstruction of infrastructure, livelihood, food security and economic recovery, $200,000,000; and North East Nigeria Integrated Social Protection, Basic Health, Education, Nutrition Services and Livelihood Restoration Project, $100,000,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
After weeks of lobbying and behind the scene manouvers, the Senate on Thursday approved the nearly $23 billion loan being sought by President Muhammadu Buhari for infrastructural projects. Tha approval came with a caveat by the Upper House: it will take responsibility for the use of the funds to ensure it is used as stated, […]<\/p>\n","protected":false},"author":7,"featured_media":11252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5779,4,7],"tags":[1209,958,142],"class_list":["post-25092","post","type-post","status-publish","format-standard","has-post-thumbnail","category-agriculture","category-business","category-news","tag-23b","tag-loan","tag-senate"],"_links":{"self":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/posts\/25092","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=25092"}],"version-history":[{"count":0,"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/posts\/25092\/revisions"}],"wp:attachment":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}