The Leader of the Senate, Ali Ndume, on Tuesday said senators voted against President Muhammadu Buhari’s request for 29.9 billion dollars foreign loan due to technical issues.

Briefing newsmen shortly after plenary, Ndume, who said that he was shocked that the request suffered such setback, expressed optimism the issues would be resolved and the request would be represented.

“The problem came on a technical ground; it is supposed to go to the committee level and the committee is supposed to take a look at it.

“I am going to appeal to my colleagues to take a look at it again and see how we are going to bring it back.

“One of the technical things that were missing is that in the letter, if you read it, says: ‘attached is a draft’ but there was no attachment.

“So, these are some of the lapses that we will look at in bringing it back.

“We were thinking that there were going to be details but there were no details of the borrowing plan.

“I believe that those will be included in the next one,” he said.

The lawmaker said that the red chamber did not have the power to give anticipatory approval of any bill or document that it had not received.

He assured that the senate was poised to do things the right way and would reconsider the request on its merit.

“We are trying to do things the way it should be done this time around, but we cannot throw away the baby with the bath water.

“In the Appropriation Act we approved that the budget will be financed through internal and external borrowing.

“The internal borrowing is going on; we also approved external borrowing, so we will look at these areas that are necessary for the funding of the budget,” he said.

Ndume could not give a specific date or period within which the president was likely to represent the request, but assured that he was going to interface with him.

“I cannot tell you now when it would be represented; I, as a leader, I am in contact with the executive which I try to market in the senate.

“As I told you, I was shocked by the decision; my colleagues surprised me today. I was not expecting that.

“If I had a little inclination that such a thing was going to happen, I would have tried to market the request or at worse, I will not present it.

“Today, the senators had their way and I had my say,” he said. (NAN)


Read more at http://www.dailytrust.com.ng/news/general/why-senate-rejected-buhari-s-29-9bn-loan-request--ndume/169616.html#41VH1CKcYXoIdjBK.99

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The senators with their usual grandstanding and histrionic.
We all know that in the end they'll approve the request with speed, even struggling to shake hands with Baba.

See scam again....it would have been padded again by the time it is resent....wait oooo...the 'how' of the loan wasn't attached....Incompetent president.....

Nonsense government.

Am really happy our democracy has grown this much.. for the first time we have executive, legislator and judiciary that are completely independent

As for the loan and people who condemn it i wonder if u guys know basic economics or u arw just plain stupid

U come online saying whats delaying the China loan and the construction of the rail and power hydro dam. .. now u see the huddle yet u pray if don't pass

These loans are designed in such a way as the financiers built operate this this and hand over after sometime... so the story of whp will pay back do not need to be asked.. Its really clear

mrvitalis:
Am really happy our democracy has grown this much.. for the first time we have executive, legislator and judiciary that are completely independent

As for the loan and people who condemn it i wonder if u guys know basic economics or u arw just plain stupid

U come online saying whats delaying the China loan and the construction of the rail and power hydro dam. .. now u see the huddle yet u pray if don't pass

These loans are designed in such a way as the financiers built operate this this and hand over after sometime... so the story of whp will pay back do not need to be asked.. Its really clear

$3.5bn to support the 2016 budget of which Buhari said is 79% implemented abi?

richidinho:


$3.5bn to support the 2016 budget of which Buhari said is 79% implemented abi?

U should be smart enough to know d 79% was an error by the media houses 3.5/6 gives u how many %.. Bro chill jor

This are not even loan to be given to Nigeria government seriously u jeed tl read

Boko Haram senator plotting to sentence this country to perpetual debt crisis just to recoup the money they spent on on sponsoring Boko haram..

Today, we are broke, but at least we not owing anybody tons of dollars. The boko haram guy plan to make sure Nigeria is sold out to debtors.

mrvitalis:


U should be smart enough to know d 79% was an error by the media houses 3.5/6 gives u how many %.. Bro chill jor

This are not even loan to be given to Nigeria government seriously u jeed tl read

Did you see the $3.5bn meant for 2016 budget support?

richidinho:


Did you see the $3.5bn meant for 2016 budget support?

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Yes because some things like lagos calabar rails are included in this budget and others and they are part of the loan

mrvitalis:
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Yes because some things like lagos calabar rails are included in this budget and others and they are part of the loan

When people used to say that you and some others are online robot i thought they were joking.

There is Lagos calabar rail in the loan doc that is estimated to cost $4.5bn

mrvitalis:


U should be smart enough to know d 79% was an error by the media houses 3.5/6 gives u how many %.. Bro chill jor

This are not even loan to be given to Nigeria government seriously u jeed tl read

Do you know you always end up saying nothing in most of your post?

You need to learn how to spell correctly, construct your sentence properly and lastly get a grip about the topic you are typing on

I just like ndume, they have there way but I have my say.