The House of Representatives has approved the $800 million loan request recently sent to it by President Muhammadu Buhari.
A member of the Reps committee on Loans, Aids and Debt Management, Abubakar Yenusa Ahmad disclosed this on Channels Television’s Sunrise Daily on Friday.
The lawmaker argued that the loan would not be utilised by the Buhari administration, saying the incoming government would deploy its own approach to utilise the loan.
He said, “The $800 million — there were so many talks that we did, especially we in the loan committee and we advised them: ‘First, leave this thing to the incoming government.
“But since the loan has been granted, we can collect. If we cannot use it, maybe when the incoming government comes, they may have a different approach to issues, maybe unlike this government that is there.
“Thank God, I won’t say it clearly but it was on social media that probably they intended not to use any of Buhari’s ministers because they have already taken them to have underperformed. So, the issue is, we have granted that loan, it is approved, so we want Nigerians to take it but it is not going to be utilised by this outgoing government.
“Now, if the incoming government comes, we will see also their own template”.
Buhari had earlier sent a letter to the Senate seeking approval to take a loan to the tune of $800 million from the World Bank to cushion the effects of subsidy removal.
– (CHANNELS TV | SUMMIT NIGERIA)
