-Abdullahi knocks Abba Kyari, Babachir Lawal
By Chinyere Aruogu
The Senate on Thursday added a fresh angle to the request made by President Muhammadu Buhari for a $29.960 billion external loan to help finance some infrastructure projects, insinuating that his aides have demonstrated high level of incompetence.
Senate spokesperson, Aliyu Abdullahi, who took the position when he appeared on a Channels TV breakfast programme, Sunrise, on Thursday, November 3 reiterated that presidential aides tasked with preparing the proposal did not do their work well.
Buhari, on Tuesday, forwarded a request to the National Assembly to approve an external borrowing plan of $29.960 billion to execute key infrastructural projects across the country between 2016 and 2018 with a repayment plan of 30 years.
The President said the external loan, the biggest in Nigeria’s history, will fund targeted projects cutting across all sectors with special emphasis on infrastructure, agriculture, health, education, water supply, growth and employment generation.
Other sectors are: poverty reduction through social safety net programmes and governance and financial management reforms, among others.
A week after the request was submitted, the Senate threw out the loan request without debate.
Senate Leader, Ali Ndume, later revealed that the president’s letter had no detailed information about the loan bid, even though the letter made reference to an “attached” breakdown in its first paragraph.
The Presidency, through Buhari’s aide on the Senate, Ita Enang, said the government would work with relevant agencies to collate the needed information, apparently conceding to the initial anomalies.
Speaking on the development Thursday morning on Channels TV, Abdullahi, said people entrusted with key responsibilities within the Presidency must do their work.
He said there was a line in the letter that read “attached”, but noted that “nothing is attached”.
He also blamed the mix-up on officials who help the President on matters of communication.
His words: “This is the reality, unfortunately. We have to rethink position given to certain persons and people who are not competent should step aside.
“What is the Chief of Staff doing? What is the SGF doing?
“We have said it that some people are working to set the president against the legislature.”
Defending the Senate’s action, Abdullahi said since the president’s letter was not supported by detailed information, the lawmakers had nothing to work with.
“If all these things are addressed, the Senate is more than desirous to consider the loan authorisation request,” Abdullahi further said.
Nigeria’s debt profile by June is about N16.29 trillion, representing $61.7 billion at N283/$1 exchange rate, according to the Debt Management Office (DMO).
In the 2016 budget, N1.48 trillion is meant for debt servicing, higher than the country’s N221.7 billion budget for health and the N369.6 billion for education.
The proposed 2016-2018 borrowing (rolling) plan of $29.960 billion is made up of proposed projects and programmes loan of $11.274 billion, special national infrastructure projects $10.686 billion, Euro bonds of $4.5 billion and Federal Government budget support of $3.5 billion.
Meanwhile, South-East APC members are appealing to the Senate to approve Buhari’s $29.9bn loan request in the interest of all, according to a statement credited to their spokesman, Hyancinth Ngwu.
The statement reads: “The All Progressives Congress in the South-East geopolitical zone has appealed to the members of the Senate of the Federal Republic of Nigeria to rescind their rejection of the $29.680bn loan planned for the three fiscal years of 2016-2018.
“The rejection of the request by the Senate is ill-advised and an ill wind that blows no one any good.”