Senators rejected Buhari’s $30billion external loan

Senators rejected Buhari’s $30billion external loan due to some technical issues – Ndume

Senator Ali Ndume, the Leader of the Senate, while speaking to newsmen shortly after the plenary, explained why senators voted against President Muhammadu Buhari’s proposed $29.9billion external loan.

Ndume noted that the request was rejected due to some technical issues which he expressed confidence would be resolve

“One of the technical things that were missing is that in the letter, if you read it, says: ‘attached is a draft’ but there was no attachment.

“So, these are some of the lapses that we will look at in bringing it back.

“We were thinking that there was going to be details but there was no detail of the borrowing plan.

“I believe that those will be included in the next one.”

The senator added that the senate would reconsider the request if all the technical issues are resolve.

“We are trying to do things the way it should be done this time around, but we cannot throw away the baby with the bath water.

“In the Appropriation Act we approved that the budget will be financed through internal and external borrowing.

“The internal borrowing is going on; we also approved external borrowing, so we will look at these areas that are necessary for the funding of the budget.”

Ndume said that no one knows when Buhari will resubmitted the request

“I cannot tell you now when it would be represented; I, as a leader, I am in contact with the executive which I try to market in the senate.

“As I told you I was shocked by the decision; my colleagues surprised me today. I was not expecting that.

“If I had a little inclination that such a thing was going to happen, I would have tried to market the request or at worse, I will not present it.

“Today, the senators had their way and I had my say.”