President Muhammadu Buhari has on Thursday requested the senate via a letter to Senate president, Ahmed Lawan to approve the federal government’s 2016-2018 external borrowing plan.
Buhari had sent the request originally estimated at $29.960 billion in 2016, but was turned down by the senate led by former Senate president, Bukola Saraki.
However, Buhari in his new request, which was read during the plenary session, asked the lawmakers to approve the loan which he said is “critical to the delivery of the government’s policies and programmes”.
The letter read: “While I have transmitted the 2016-2018 external borrowing plan to the eight National Assembly in September 2016, this plan was not approved in its entirety by the legislature.
“Only the federal government’s emergency projects for the North East’s four states projects and one China…assistant railway modernisation projects for the Lagos-Ibadan segment were approved out of the total of 39 projects.
“Outstanding projects in the plan that were not approved by the legislature are nevertheless, critical to the delivery of the government’s policies and programmes relating to power, mining, roads, agriculture, health, water and educational sectors.”
“Accordingly, I have attached for your kind consideration, relevant information from the Minster of Finance, the specific outstanding projects under the 2016-2018 external borrowing plan for which legislation approval is currently sought,” he said.
“I 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.”