President Muhammadu Buhari,Tuesday asked the Senate to approve a new set of loans to the tune over N402 billion.
The request was conveyed in the form of issuance of promissory notes was read on the floor of the Red Chamber by the Senate President, Ahmad Lawan. The letter disclosed that of the total sum, N375 billion was meant for settling outstanding claims owed to various exporters.
Other similar debts payment requests to be routed through Debt Management Office (DMO), are N6.706 billion for Kebbi State Government on construction of federal roads in the State and N2.706billion for Taraba State Government for constructing federal roads as well .
Besides,President Buhari asked the Senate to approve the issuance of N18.623billion promissory notes for the Yobe State Government.
The letter said that payment of N18.623billion to Yobe State Government through the Debt Management Office will help the state to offset all monies expended on execution of five different federal road projects in the state.
The President in the separate letter sought for quick consideration of the requests .
He also sought confirmation of the appointment of Mohamed Sabo Lamido as Executive Commissioner, Finance and Accounts of the Board of Upstream Regulatory Commission.
