Tuesday, 6 June 2017
Osinbajo seeks Reps approval for US1.5billion loan
The loan is part of the2016-2018 External Borrowing (Rolling) Plan.
The states are Kastina, Ebonyi, Jigawa, Kano, Enugu, Plateau, Ondo, Kaduna, Ogun and Abia.
In a letter to the House, which was read at plenary by Speaker Yakubu Dogara, the acting president urged the legislature to separate the states projects from the items listed in borrowing plan, so as to give them accelerated consideration.
“You may wish to know that the request for the separation of the state’s projects from the list became imperative in view of the state current economic realities in the country and the pressing needs of these states to provide infrastructural and social amenities for their citizens.
“The total loans for the states being presented for special consideration and approval is US$ 1,492,400,000.00 as listed in paragraph in 1 above.”
A breakdown of the loan request indicates that Kaduna and Ogun are seeking $350 million each from the World Bank.
While Ebonyi and Abia are seeking $70 million $100 million respectively from the Africa Development Bank (AfDB).
Also, Katsina is seeking $110 million, Jigawa, $32.4 million, Ebonyi, $80 million, and Kano, $200 million, all from the Islamic Development Bank. Enugu, Kano, Plateau and Ondo are together seeking a sum of N200 million from French Development Agency.
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