Stella Dimoko Korkus.com: Reason Senate Rejected Buhari’s $30bn Loan Request

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Wednesday, 2 November 2016

Reason Senate Rejected Buhari’s $30bn Loan Request

THE Senate, yesterday, unanimously, threw out President Muhammadu Buhari’s request for external loan of $29.96 billion to execute key infrastructural projects across the country between 2016 and 2018 because the letter conveying it was not accompanied by a borrowing plan. 




The Senate did not even discuss the request as it died immediately it was mentioned as an executive communication by Senate Leader, Senator Ali Ndume. However, the Presidency, in a swift reaction by Senior Special Assistant to the President on National Assembly Matters, Senate, Senator Ita Enang, said it would engage the Senate and provide all the needed documents and borrowing plan.

 The matter came up soon after the Senate convened for the day’s plenary and the request was number one under Executive communication in the Order Paper. Leader of the Senate, Senator Ali Ndume, moved a motion that the request be considered and his motion was seconded by the Deputy Minority Leader of the Senate, Senator Emmanuel Bwacha. 


President of the Senate, Bukola Saraki who presided over the plenary, put the question forward whether or not the request should be debated. However, Senate President Saraki was interrupted by Senator Dino Melaye, APC, Kogi West, who raised a point of order. He was still speaking when he was cut short by Saraki, who insisted that the question be put forward before Melaye’s position will be accommodated. 


Senate President Saraki, thereafter put it to vote and the nays had it. Senator Saraki who was surprised and apparently out to give President Buhari a soft landing, decided to put it to vote the second time and the Senators again thundered ‘nay’ and the Senate President had no option than to rule in favour of those who voted against collecting the loan. The request was shot down at about 11am yesterday.
Vanguard



25 comments:

white Berry said...

It's better it was ruled out, am not in support of such huge loan

charitybino said...

Yeey

AppleofGodseyeoriginal said...

Good morning Stells n my fellow bvn,Di's Glo sub been giving me hassles since yesterday, Glo users, how una dey use am?

Anonymous said...

I don't understand why he needs a loan of 30bn,what about all the money collected by EFCC from all these people charged with money laundering na,he should take from there..


Missylynn

Oluyomi Odukoya said...

Let Buhari and his team do the needful then.

Lateesha Pasteries Ajjah Lagos - 07032392414 said...

Say what???? 30 billion Kini???? Haaaaa, there presido,za amount of money has given me a Headache.


#waymaker#miracleworker#thatswhomyGodis#

barbie micheal said...

That saraki is just plain foolish, so he wanted the second one to work nau, they don't even need a reason to "off" that kind of request

Tayan Taylor said...

Even the Senate presidents are angry.
Bubu you are in soup

One trillion said...

End time Legislators

Lilly simple said...

30bn $ and not even Naira
When will Nigeria finish paying this kind huge money
I thought he took money from China?
Let's manage what we have

I watch Min of Finance and Foreign Investors discussion yesterday
Please is d Minister shy?
Why was she looking down mostly when ever she's talking

It's not foreign English abeg, I think that position is too much for her and i'av the feeling when they are reshuffling she will be affected

soblessed ifemi said...

Good

I am the queen and the boss of this blog said...

Why can't they impeach Vuharia?,..
It should be my dream come true!,,

Cynthia Iyede said...

Better!

Francis ezekwonna said...

our president has refused to work with technocrats, that's the reason why the once largest economy in Africa wants to borrow.
Kudos to our senators for saying nay. see how ignorant the presidential team are: they failed to include their borrowing plan.

Rob said...

This man is a complete moron

Rhoda Rex said...

Hmmmn

la effizy said...

Nice. In full support of the senate. I can see every one is up and doing now.

Anonymous said...

I voted for this government,now am losing it.

Mosi Jubelo said...

Abi

Mosi Jubelo said...

Same here

Chiamaka said...

I no fit shout. I don't understand glo any longer

Ben Ejiogu Fingertrickz BEATZ said...

Ndo. Next time be like me. Between the devil and the deep blue sea..... You stand still, watch and not choose.

Ben Ejiogu Fingertrickz BEATZ said...

He wants to discus with them one on one like Dogura abi wetin be that man name. He is already thinking about investing in the next Elections as that can be the only thing he will borrow for. So all they have been saying were all lies? China this, EFCC that. All those can't be used because it's not in dollars sebi?

Kim Kardashian Aka portable queen of sdk blog said...

Buhari lacks common sense.
What are they waiting for before they impeach him?

Starjoy said...

I agree with the Senate, what does he need that huge amount for, and I ask what about all the sized EFCC realised?

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