Despite his earlier caution to the Executive to minimise its
planned borrowing, the President of the Senate, Ahmad Lawan, has
revealed that the 9th Senate will pass President Muhammadu Buhari’s
$29.9 billion loan request.
Lawan who spoke in Abuja during a media parley, however, said
the various standing committees will carry out serious oversight
functions and ensure that the money is not misappropriated by the
various Ministries, Departments and Agencies (MDAs).
In November 2016, the Bukola Saraki led Senate rejected the same
loan request from President Buhari. It had complained that details
of the request were not forwarded to the chamber.
“The question of whether we will pass the loan request of the
Executive arm of Government, yes, we will pass it. If we don’t have
money and you have projects to build them, how will you provide
infrastructure that you need?
“But one thing is that, we are going to be critical that every
cent that is borrowed is tied to a project. These are projects that
will have spillover effects on the economy and we will undertake
our oversight so well to ensure that such funds are properly,
prudently, economically and transparently applied on those
projects,” Lawan said.
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