{"id":70911,"date":"2019-12-16T20:11:39","date_gmt":"2019-12-16T19:11:39","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=70911"},"modified":"2019-12-16T20:11:39","modified_gmt":"2019-12-16T19:11:39","slug":"lawans-senate-to-approve-buharis-30billion-loan-request","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/lawans-senate-to-approve-buharis-30billion-loan-request\/","title":{"rendered":"Lawan\u2019s Senate To Approve Buhari\u2019s $30billion Loan Request"},"content":{"rendered":"
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President of the Senate, Ahmad Lawan, has said that the Senate would approve President Muhammadu Buhari\u2019s request to borrow $29.96 billion.<\/em><\/p>\n

He gave the indication while addressing a gathering of reporters on Monday in Abuja, the Federal Capital Territory.<\/p>\n

The Senate President said, \u201cThe question of whether we are going to pass the loan request of the Executive arm of government; yes.<\/p>\n

\u201cIf you don\u2019t have money and you have projects that after you do them they will not only provide the infrastructure that you need but also spin money, nothing will really militate against the passage.\u201d<\/p>\n

The 8th Senate led by former Senate President Bukola Saraki had rejected President Buhari\u2019s loan request in 2016 due to the lack of details.<\/p>\n

Senator Lawan, however, noted that the President has learned his lesson and has provided that necessary details of what the loan would be used for in his new request.<\/p>\n

He explained that the Senate would not only approve the loan request of the President but also ensure strict oversight to make sure it was used for the purpose intended.<\/p>\n

\u201cBut one thing is we are going to be critical that every cent that is borrowed is tied to a project,\u201d the Senate President added.<\/p>\n

He denied the claims that he had earlier said the country does not need to borrow money following the passage of the Production Sharing Contract Amendment Bill and the Finance Bill.<\/p>\n

According to him, the production sharing contract bill is expected to generate about $2 billion dollars for the country while the finance bill is expected to increase Nigeria\u2019s revenue generation.<\/p>\n

In spite of this, Lawan stressed that it does not stop the Federal Government from borrowing to better the lives of the people.<\/p>\n

\u201cI didn\u2019t say that because we have passed the Production Sharing Contract Amendment Bill, that Nigeria doesn\u2019t need to borrow. I can\u2019t remember saying anything like that.<\/p>\n

\u201cIt is the same with the Finance Bill. But one thing I said is that with the passage of the Production Sharing Contract Bill, Nigeria will get more revenues,\u201d the Senate President told the press conference.<\/p>\n

His statement comes on the heels of President Buhari\u2019s letter to the National Assembly, requesting to borrow $29.96 billion.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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President of the Senate, Ahmad Lawan, has said that the Senate would approve President Muhammadu Buhari\u2019s request to borrow $29.96 billion. 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