The Nigerian Senate, on Tuesday, dumped President Muhammadu Buhari’s 2016-2018 External Borrowing Rolling Plan request of N29.96 billion.
The request was rejected immediately the Senate convened for the day’s business. Leader of the Senate, Senator Ali Ndume moved a motion that the request be considered.
He was supported by the Deputy Minority Leader of the Senate, Senator Emmanuel Bwacha. President of the Senate, Bukola Saraki thereafter, put the question forward whether or not the request should be debated.
When it was put to a voice vote, almost every Senator who was present, shouted ‘nay’. Not certain, Saraki again called for another voice vote. Lawmakers again thundered ‘nay’. Saraki thereafter ruled in favour of those who voted against the loan request.
A lawmaker who spoke to Ripples Nigeria, explained why the request was rejected: “The President in the letter said there was an attachment containing the breakdown of the external loan request. But there is no attachment. President Buhari did not attach the breakdown. There is no way we can consider such a request.
“Secondly, the president has not sent Federal Government’s 2016-2018 borrowing plan to the Senate. That ought to have been sent first for consideration and passage before this request. If we consider this request, how do we do that? These are the obvious reasons. There is no political undertone here.”
Last week Tuesday, President Buhari forwarded a request to both chambers of the National Assembly to approve his request to borrow $29.96 billion to finance projects cut across all sectors with special emphasis on infrastructure, agriculture, health, education, water supply, growth and employment generation, poverty reduction through safety net programmes and governance, as well as financial management reforms.