Nigerian News

Buhari Seeks Senate’s Approval For Issuance Of N402 Bn Promissory Notes

•As exporters get large share of N375 billion

The Evangelist
Wednesday, September 21, 2022

President Muhammadu Buhari in separate letters of request sought approval of the senate on Tuesday for the issuance of promissory notes totalling over N402 billion.

The first of such requests read in plenary by President of the Senate, Ahmad Lawan was N375billion meant for settling outstanding claims owed various exporters.

Other similar debts payment requests to be routed through Debt Management Office ( DMO), are N6.706billion for the Kebbi state government on the construction of the federal road in the state and N2.706billion for the Taraba state government for constructing federal roads as well.

President Buhari in another request as read in plenary by the President of the Senate, also sought approval of the senate on the issuance of N18.623billion for the Yobe state government.

The President in the letter, said payment of N18.623billion to the Yobe state government through the DMO will help the state to offset all monies, expended on the execution of five different federal road projects in the state.

The President in the separate letters sought expeditious consideration of the requests.

In another letter of request, President Buhari sought confirmation of the appointment of Mohamed Sabo Lamido as executive commissioner, of finance and accounts of the Board of Upstream Regulatory Commission.

Lamido’s appointment as explained by the President in the letter was necessitated by the death of Hassan Gambo who hitherto served in that capacity before his death.

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