Commotion as Senate okay fresh $800m World Bank borrowing
Di Senate don approve President Bola Tinubu request for $800 million borrowing from di World Bank.
Na Senate President Godswill Akpabio read di president request wey dey inside letter for di plenary on Thursday.
Tinubu, inside di letter, explain say di loan na hin dey go use scale up di national social safety net programme.
Attached with di request na decision by di Federal Government to transfer di sum of N8,000 monthly to 12 million poor and low-income households for six months.
He yarn say di money go dey transferred directly to identified beneficiaries’ accounts.
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Na part of wetin di President letter tok be dis: “Please note that the federal executive council led by President Muhammadu Buhari approved an additional loan facility to the tune of $800 million to be secured from the World Bank for the National Social Safety Net programme, Copy of FEC’s extract attached.
“You may also wish to note that the purpose of the facility is to expand coverage of shock responsive safety net support among the poor and vulnerable Nigerians. This will assist them in coping with basic needs.
However, before di Senate approve di request yesterday, dem go into closed session at 3. 32pm and dem come out at 4.41 pm to brainstorm and give di request passage.
Also, di Maritime Arbitrators Association of Nigeria, MAAN, yarn say di move by di Federal Government to pay 12million poor households N8,000 per household monthly na far cry from di economic realities. Hin add say na insult on Nigerians.
You fit go read di tori as Senate approve Tinubu request…READ MORE
