The Senate Committee on Local and Foreign Debt chaired by Senator Uba Sani has reportedly kicked against President Muhammadu Buhari's request to borrow $700 million, Newspremises reports.

Buhari had earlier requested for approval of the loan to enable his administration embark on Sustainable Urban and Rural Water Supply, Sanitation and Hygiene (SURWASH) under the Ministry of Water Resources in 2022.

The rejection was coming less than 24 hours after a sum of a $200 million loan was requested by the Ministry of Health for procurement of Mosquito nets which was contained in the budget proposal presented to the Senate.

Members of the Committee faulted the idea of seeking loan to fund Sustainable Urban and Rural Water Supply, Sanitation and Hygiene, noting that there were enough loans which the country has been servicing.

Chairman of the Committee, Senator Clifford Ordia stated that three different loans have been approved for various water projects.

Ordia said: “$450 million for the Ministry for the water project being financed by the Africa Development Bank and another $6 million loan under integrated program for Development also financed by Africa Development Bank and Gurara water project.

“You need to tell us what you are doing with $700 million for water projects.”

The Committee therefore agreed to summon the Minister of Water Resources, Adamu Suleiman to appear to give explanation on the loans and state of loans collected so far.

Another member of the Committee, Senator Obinna Ogba, vehemently kicked, arguing that Nigerians haven’t been enjoying water despite huge loans gotten in the past.

He said,” this loan, I don’t support this one again, enough is enough .”

Also kicking against the loan, Senator Ibrahim Oloriegbe asked what is criteria for selecting benefiting states adding that details provided by the Permanent Secretary of the Ministry is not enough to justify the loan.

Oloriegbe asked, “what is the criteria for selecting benefiting states, the details you are providing is not enough, what are the projects you want to do with $640 million and how much water are you going to do?”


Source: https://newspremises.com.ng/senate-kicks-against-buharis-700-million-loan-request-for-water-project/

Lalasticlala
Mynd44
Dominique

ok

Rubber stamp senate, they will still approve it

Franklyspeakin:
Rubber stamp senate, they will still approve it

Whats the rubber stamp senate president waiting for ?? Pls do the "normal" thing.

Loan is the new oyeel

If not that Buhari's successor is only interested in getting into Aso Rock to finish off the remains of Nigeria, I have yet to see the motivation behind being Nigeria's next president. This old man has wrecked Nigeria.

Buhari should please come and borrow my sense.

If this man no kill us we go kill am las las

What do you expect from a man who bought his presidential nominee form with a loan?

Who ever built his foundation with a loan, will live under loans forever!

damilola4162:
The Senate Committee on Local and Foreign Debt chaired by Senator Uba Sani has reportedly kicked against President Muhammadu Buhari's request to borrow $700 million, Newspremises reports.

Buhari had earlier requested for approval of the loan to enable his administration embark on Sustainable Urban and Rural Water Supply, Sanitation and Hygiene (SURWASH) under the Ministry of Water Resources in 2022.

The rejection was coming less than 24 hours after a sum of a $200 million loan was requested by the Ministry of Health for procurement of Mosquito nets which was contained in the budget proposal presented to the Senate.

Members of the Committee faulted the idea of seeking loan to fund Sustainable Urban and Rural Water Supply, Sanitation and Hygiene, noting that there were enough loans which the country has been servicing.

Chairman of the Committee, Senator Clifford Ordia stated that three different loans have been approved for various water projects.

Ordia said: “$450 million for the Ministry for the water project being financed by the Africa Development Bank and another $6 million loan under integrated program for Development also financed by Africa Development Bank and Gurara water project.

“You need to tell us what you are doing with $700 million for water projects.”

The Committee therefore agreed to summon the Minister of Water Resources, Adamu Suleiman to appear to give explanation on the loans and state of loans collected so far.

Another member of the Committee, Senator Obinna Ogba, vehemently kicked, arguing that Nigerians haven’t been enjoying water despite huge loans gotten in the past.

He said,” this loan, I don’t support this one again, enough is enough .”

Also kicking against the loan, Senator Ibrahim Oloriegbe asked what is criteria for selecting benefiting states adding that details provided by the Permanent Secretary of the Ministry is not enough to justify the loan.

Oloriegbe asked, “what is the criteria for selecting benefiting states, the details you are providing is not enough, what are the projects you want to do with $640 million and how much water are you going to do?”


Source: https://newspremises.com.ng/senate-kicks-against-buharis-700-million-loan-request-for-water-project/

Lalasticlala
Mynd44
Dominique

I'm also against it

I can see the hand of TINUBU. Baba no want hear say somebody leave debt dey wait for am.
Tinubu has a played a fool for 6 years plus. It is time that He shows how, powerful and cunning He can be. He is the favourite for 2023, everyone knows that a contest against Tinubu is true contest. All Presidential aspirants are praying He should just wake up one day and declare that He is not contesting so that, their nerves can calm down.

He wants to max out on the credit limit before leaving in 2023 (that’s if Nigeria survives that long)! Why?.....Because he’s not sure if the next person will ‘play ball’ and finish all the projects he’s greedily grabbed for Daura in particular and Katsina in general! That’s what all this taking of loans is about.....nepotistic greed, wearing the false garb of ‘provision of critical infrastructure’!

You see this greed as well in the signing all sorts of MOUs and agreements that disproportionately favour the north-west while either ignoring the ‘nyamiri’ zone or giving them second dibs after the ‘favoured’ north-west and south-west have got first consideration!

Few months ago, i watched on the news as a water project built by the federal gov’t for Katsina State was launched. It cost more than 20 billion naira!

Kingpin1000:
I can see the hand of TINUBU. Baba no want hear say somebody leave debt dey wait for am.
Tinubu has a played a fool for 6 years plus. It is time that He shows how, powerful and cunning He can be. He is the favourite for 2023, everyone knows that a contest against Tinubu is true contest. All Presidential aspirants are praying He should just wake up one day and declare that He is not contesting so that, their nerves can calm down.

tinubu is smart,tinubu is sophisticated.......yet he gave Buhari to Nigeria ! abeg anybody criticizing Buhari should tag #tinubu, #adeboye and #bakare join.........those are the afonja trio that brought this buhari disaster in 2015.

Bubu the borrow borrow bororo .

That's what happens when you vote in an almajiri twice.

It could even be that he has no idea what the term, "loan", means.

Maybe he thinks that loan is another name for free money.

afube:





tinubu is smart,tinubu is sophisticated.......yet he gave Buhari to Nigeria ! abeg anybody criticizing Buhari should tag #tinubu, #adeboye and #bakare join.........those are the afonja trio that brought this buhari disaster in 2015.

You did not add the selfish characteristic which is His best trait.
Everything Tinubu does is for Himself, what a selfish man