$29.9 loan rejection; Presidency accepts senate decision

Ebun Francis

The Presidency on Tuesday announced that it will not dispute the decision of the senate to reject the $29.9 loan request sent to the national assembly by the President. The senior special assistant to  President Buhari on National Assembly Matters, Senator Eta Ewang said that the Presidency will however, dialogue with the senate to resolve grey areas that made the upper legislative chamber to reject the request.

Senator Ewang spoke to newsmen outside the national assembly after the rejection of the request at plenary by the senate. According to him, ” There are certain information and details which will enable them to consider in detail, and appropriately the President’s request”.

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”So we are collating the information- the budget office of the federation, debt management office, the minister of budget and national planning, the minister of finance and the economic team are collating the information, so that it can be submitted to the senate to enable them take appropriate decision”.

It will be recalled that the senate had earlier Tuesday rejected President Buhari’s request to borrow $29.9 billion as part of external borrowing to stimulate the economy for 2016-2018. A rejection the Senate leader, Senator Ali Ndume attributed to the non attachment of certain documents that should have accompanied the President’s letter.