The Senate on Wednesday approved President Muhammadu Buhari’s $22,798,446,773.00 external loan request.Buhari had requested for the loan to fund critical infrastructure projects under the 2016 – 2018 External Borrowing Plan.

The process of approving the loan by Senators however led to vehement disagreements in the upper chamber.
While some Senators supported the approval, others kicked against it.

Efforts were earlier made bY Senator Adamu Aliero (Kebbi Central) to postpone the consideration of the report to another legislative day.

However, the President of the Senate, Ahmad Lawan, said that such a postponement would be counterproductive as the findings and recommendations of the report would have already been debated in the media before the consideration.

He advised that the report be considered to forestall such an eventuality.

The Chairman Senate Committee on Senate Committee on Local and Foreign Debts, Senator Clifford Ordia (Edo Central) presented the report.

As Lawan moved to subject the two recommendations in the report to vote and approval, the Minority Leader, Senator Enyinnaya Abaribe raised a point of order.

Abaribe said that it would be necessary to subject the various components of the loan to voting, especially the amounts and the lending countries.

Lawan disagreed with him and said that the Senate would only vote on the two recommendations contained in the report.

Abaribe said: “We are going to pass a loan of $22.7billion for which we are being denied the privilege to express our reservations. You are putting us in a very impossible position.

“There are some aspect of this loan that we object to. I want to ask on behalf of our colleagues here that we take these items one by one and vote on them.”

Lawan in his response said: “You (Minority Leader) have not been denied of your privilege.“I don’t want the discussion on this loan to degenerate into partisanship. My action was was not an attempt to muscle you.”“I want to quote one popular saying that he who goes a borrowing, goes a sorrowing,” Abaribe replied.

At this point, Senator Gabriel Suswam said that he also had some objections and information on an aspect of the loan that relates to power projects in the report which he did not want to raise in the open chamber.

He urged the Senate President to allow the Senate to go into an executive session for 10 minutes to resolve the issues.“There are contentious issues in this report. I want to appeal that we go into an executive session for 10 minutes after that we can conclude proceedings on this report,” Suswam said.

Even though Lawan earlier kicked against the suggestion for the Senate to go into an executive session, he later accepted it following apparent interventions by Senators.The Senate after the closed door session, which lasted for about 30 minutes, approved the two recommendations in the report.

Details shortly…

https://www.google.com/amp/s/thenationonlineng.net/breaking-uproar-as-senate-approves-buharis-22-7bn-loan-request/amp/

Lalasticlala

Time to cash out for most of them. If only they could eat a while core in a sitting maybe their wealth will be meaningful.

Money for what ?
Fighting insurgency No
Corruption No
Terrorism No
Provision of Electricity No
Healthcare No
Education No
Buying military hard wares No

money for What exactly: CRITICAL INFRASTRUCTURE PROJECTS that Boko haram will soon come and destroy again!

Even a Rubber Hammer is more useful than Lawan as SP. Man is just a Rubber waiting to stamp anything.

The dullard and his tools (Lawan, Gbaja, Tanko) will end Nigeria.

The stooge Ahmed Lawan have sold Nigeria to more financial indebtedness with this reckless move even with a tyrannical shut down of scrutiny.

E don really be for Nigeria

“I want to quote one popular saying that he who goes a borrowing, goes a sorrowing,” Abaribe replied.

But to that man in Aso Rock, [b]He believes that,
Who Goes Borrowing Goes Enjoying

Everyone just trying to cut a large chunk of the depleted National Cake before the inevitable eventuality.

Shouldn't the request for the loan be subjected to intense scrutiny, at least for the sake of the incoming generation?
Can't Mr. Lawan, for once act like he isn't a rubber stamp as alleged? Would he, as the owner of a business allows his managers push him into obtaining loans under such obscurity?

“I want to quote one popular saying that he who goes a borrowing, goes a sorrowing,” Abaribe replied.

At this rate, Buhari will borrow this country into extinction, no thanks to the rubber stamp Senate President ...

I pity the next President, sorry in advance.

Before nko?

Una think say we come play?

I Love PMB

kukuma sell all of us on amazon

SW see what you have brought on us...





Debt, that our grandchildren can't pay off.

Debts!! Borrowing! Taxation! RUGA! Hate Speech/Social Media Regulation Bill, Banning Of Protest Bill, BH/Fulani terrorists are just the priority of this satanic government.Nigeria is in for a long ride.

Lol.

Buhari had requested for the loan to fund critical infrastructure projects

The critical infrastructure projects have no names?

Anyway, if you are going to borrow, borrow huge, borrow hard and borrow fast.

Nigeria hopefully will disintegrate before 2023, so I want to see which Nigeria the borrower's are going to claim their money from especially if it was swallowed by individual which will be the case.

BeeBeeOoh:
E don really be for Nigeria.But to that man in Aso Rock, He believes that, Who Goes Borrowing Goes Enjoying

These dumbasses does not understand that debt servicing is not debt payment.

Hmmm

Nigerians through labour organisations and civil societies organisations can resist it.
Using social media will help to mount opposition against taken this loan

Who will pay those loans back. In many years if Nigeria goes bankrupt due to this borrowing spree, the citizens must have to catch his grandchildren and hold them to recover the loan.

NLC and TUC should go on general strike to protest this. Your great-grand-children can't pay off that loan.

[s]

FrLukas:
Lol.



The critical infrastructure projects have no names?

Anyway, if you are going to borrow, borrow huge, borrow hard and borrow fast.

Nigeria hopefully will disintegrate before 2023, so I want to see which Nigeria the borrower's are going to claim their money from especially if it was swallowed by individual which will be the case.

[/s]