The Senate has today gave accelerated approval to President Buhari’s request to raise a fresh loan of N850 billion from the domestic capital market to finance the project in the 2020 budget.
The Senate has tasked its Committee on Finance, appropriation, Domestic and foreign debt and National planning to liaise with the Finance Minister, Mrs Zainab Ahmed to get more details on the loan request.
The nod was unanimously given when the President of the Senate, Senator Ahmed Lawan read the President Buhari latter seeking the approval of the red chamber to raise a fresh loan of N850 billion from the domestic capital market to make the fund available to finance the project in the 2020 budget.
The Senator whom earlier this morning resumed plenary after spending thirty-six days at home following the outbreak of the coronavirus global pandemic.
Just after the plenary resumed about 10:30 am, the Senators went into a closed-door meeting which lasted for about two hours.
Similarly, the Senators suspended Order 11 of the Senate Standing Order as Amended, this was to give the lawmakers privilege to speak from seats that do not belong to them to observe social distancing.
On a motion titled COVID-19 pandemic:
Reviewing the National Response to the Challenges and the way forward.
The sponsors of the bill are the Senate Majority Leader, Senator Yahaya Abdullahi, APC, Kebbi state and Minority Leader, Senator Eyinaya Abaribe, PDP Abia South.
It is co-sponsored by Senators Yahaya Oloriegbe, APC, Kwara Central; Sabi Aliyu Abdullahi, Niger North; Chukwuka Utazi, Enugu North; Solomon Adeola, Lagos West and Sadiq Umar, Kwara North.
