President Muhammadu Buhari on Tuesday, 15th October 2019 sought the approval of the National Assembly (NASS), in requesting the sum of N10.69 billion from the Federal Government for the settlement of debts incurred locally and refund for projects executed on behalf of the Federal Government to the government of Kogi State.
In a letter written to Senate President Ahmed Lawan, which was read during today’s plenary, Buhari requested for the resolution of the Senate for the approval of the sum to be issued to the Kogi State Government.
Also, President Buhari noted in the letter that the federal projects were duly verified by the Federal Government.
The letter reads in parts:
“Dear distinguished Senate President, requests for the resolutions of the National Assembly for the issuance of 10.69 Billion Naira promissory notes to Kogi State Government under the promissory notes programme and a bond issuance to certain inherited local debts and contractual obligations of the Federal Government to refund to states for project executed on behalf of the Federal Government".
It went further to state that “The distinguished Senate President will recall that based on my request for the resolution of the National Assembly approving the establishment of a promissory note programme and a bond issuance for certain inherited local debts and contractual obligations of the Federal Government, the 8th National Assembly passed resolutions approving the issuance of promissory notes to refund state Governments for projects executed on behalf of the Federal Government.”
Commenting on the plea by President, the Senate President mandated the Senate Committee on Local and Foreign Debts to handle the request and report back within two weeks.