Buhari Seeks Senate’s Approval To Issue N402bn Promissory Notes - Mc Ebisco Buhari Seeks Senate’s Approval To Issue N402bn Promissory Notes - Mc Ebisco
Politics

Buhari Seeks Senate’s Approval To Issue N402bn Promissory Notes

President Muhammadu Buhari, yesterday, requested the Senate to grant him approval to issue promissory notes totaling over N402 billion.

The request was contained in separate letters from the President, which were read during plenary by the President of the Senate, Ahmad Lawan. In the first letter, President Buhari requested for N375 billion to settle outstanding claims owed various exporters.

Other similar debt repayment requests to be routed through the Debt Management Office (DMO), are N6.706 billion for Kebbi State Government as refundfor the constructionof afederalroad in the state and N2.706 billion forTarabaStateGovernment for constructing a federal roads as well.

President Buhari in anotherrequestread by Lawan, also sought for approval to issue N18.623 billion to pay Yobe State Government.

The President in the letter, said payment of N18.623 billion to the Yobe State Government through the DMO will help the state to offset all monies expended on execution of five different federal road projects in the state.

The President called for expeditious consideration of the requests. In another communication to the Senate, President Buhari sought for confirmation of the nomination of Mohamed Sabo Lamido for appointment as Executive Commissioner, Finance and Accounts of the Board of Upstream Regulatory Commission.

Lamido’s nomination for appointment, according to the President, was necessitated by the death of Hassan Gambo who hitherto served in that capacity.

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