President Muhammadu
Buhari on Thursday sought the re-consideration and approval of the National
Assembly on the 2016-2018 External Borrowing Plan of the Federal Government.
Buhari’s request was
contained in a letter addressed to President of Senate Ahmad Lawan and read at
the plenary.
The letter reads,
“Request for the National Assembly to reconsider and approve the Federal
Government’s 2016 and 2018 External Borrowing Plan.
“Pursuant to section
21 and Section 27 of the Debt Management Office Establishment Act.
“I hereby request for
resolution of the Senate to approve the Federal Government’s 2016 and 2018
external borrowing plan as well as relevant projects under this plan.
“Specifically the
senate is invited to note that while I had transmitted the 2016-2018 external
borrowing plan to the 8th National Assembly in September 2016, this plan was
not approved in its entirety by the legislature.
“Only the Federal
Government’s emergency projects, for the North-East’s four states projects and
one China Exim Bank assisted railway modernisation project for the Lagos-Ibadan
segment were approved out of a total of 39 projects.
“The outstanding
projects in the plan that were not approved by the legislature are nevertheless
critical to the delivery of government policies and programmes relating to
power, mining, roads, agriculture, health, water and educational sectors.
“These outstanding
projects are well advanced in terms of their preparation consistent to the 2016
debt analysis undertaken by DMO and were approved by the Federal Executive
Council (FEC) in August 2016 under the 2016-2018 external borrowing plan.
“Accordingly, I have
attached for your kind consideration, relevant information from the Honourable
Minister of Finance Budget and National Planning, the specific outstanding
projects under the 2016 -2018 external borrowing plan for which the legislative
approval has been sought.
“I have also directed
the minister to make herself available to provide any additional information or
clarification which you may require to facilitate prompt approval of the outstanding
projects under this plan.
“While hoping that
this request will receive the usual expeditious consideration by the Senate,
please accept distinguished Senate President, the assurances of my highest
consideration,’’ the letter stated.