Lawan: We've approved about $28bn loan requests in one year

Lawan: We’ve approved about $28bn loan requests in one year

June 11

18:14 2020

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Senate President Ahmad Lawan says the upper legislative chamber has approved about $28 billion loan requests of President Muhammadu Buhari in one year.

In a speech on Thursday to mark one year since the ninth senate was inaugurated, Lawan said they “scrutinised” the projects and programmes the loans were tied to before approving the requests.

The senate president said the legislature would ensure that the projects are properly executed for the good of the country.

“We have approved foreign loans of about $28 billion in the last one year,” he said.

“We had ensured proper scrutiny for the desired projects and programmes of government, the conditions of the facilities; before approving such borrowing requests.

“The task ahead of us is to ensure tracking, monitoring and supervision of how the loans are applied. We must ensure that the target projects remain, and that there is value for money also.”

Lawan said in one year, the senate has passed a total of about 450 bills.

“Some of these bills have already been signed into law and the remaining are in different stages of legislative processing,” he said

“We have also carried out confirmations for appointments by the executive arm of government. We will recall that the Senate suspended its recess in order to screen and confirm the Ministerial nominees of Mr. President in July last year,” he said.

“Barely a month after our inauguration, we confirmed the appointment of Chief Justice of Nigeria, Hon. Justice Ibrahim Tanko Mohammed, GCON, on 17th July 2019. Today, 11th June 2020, we have just confirmed the nominee for the President of the court of appeal, Hon. Justice Monica B. Dongban-Mensem.

“In all the cases, our committees worked hard to meticulously screen the nominees. Thus, in the last one year, this senate has successfully confirmed 33 presidential confirmation requests.”

The senate president said the national assembly under his chairmanship and the executive arm of government have decided to “collaborate and partner for a harmonious working relationship.”