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REVEALED: Why Senate rejected Buhari’s $30bn loan request

01 November 2016, 16:42

Abuja - The Senate has cited a “lack of technical detail” as the reason legislators rejected the request by President Muhammadu Buhari for external borrowing to the tune of $29,96 billion (about 95 trillion).

Senate leader, Ali Ndume, gave this explanation while briefing journalists at the National Assembly after sitting on Tuesday.

“The borrowing plan was rejected on technical ground and I am going to appeal to my colleague and bring it back. We cannot reject the baby with the bad water,” Ndume said.

Also read: Buhari orders investigation into sexual abuse in IDP camps

He said it was stated in the President’s letter that the technical details were attached but there was no such document.

The Senate on Tuesday morning had rejected the consideration of a request by Buhari’s external borrowing rolling plan over a period of three years.

Buhari’s consideration was listed under Executive Communication in the Order Paper but when the Senate President, Bukola Saraki, put the consideration to voting, senators unanimously rejected it.

– CAJ News

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- CAJ News

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