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Buhari To Spend $29.96n Loan On East-West Road, Others -Senate

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The Senate has disclosed that President Muhammadu Buhari would expend the request for external loan of $29.96billion on the execution of five legacy Infrastructural projects across the country, just as it said that Nigeria cannot stop borrowing.
Speaking with Journalists in Abuja, at the weekend, Chairman, Senate Committee on Finance, Senator Solomon Olamilekan Adeola (APC, Lagos West), who disclosed that Buhari’s administration has five legacy projects which it planned to spend the money on, however, identified the projects as the Second Niger Bridge, the East-West Road, the Lagos-Ibadan expressway, the Mambila Power project, and the Kaduna-Abuja Highway.
Adeola, who noted that the loan will not have untold hardship on the people, said that if the need arises, the Senate would organise a public hearing where Nigerians in all strata of the society would come up with suggestions before the final approval by the lawmakers, adding that at the end of the day, the Senate would monitor the utilization of the loan.
The senator also vowed that the Senate would monitor the over 300 revenue generating agencies, with a view to ensuring that revenues that should get to the government coffers get there and used for the overall interest of the country.
He has also threatened that the Senate would probe claims about the Volume of Imported Fuel and those who have cheated Nigerians should be prepared to face the full wrath of the law as they would be prosecuted, adding that the Senate would block all the leakages in the Nigerian National Petroleum Corporation (NNPC).
It would be recalled that President Muhammadu Buhari, had on November 28, written to the Senate, again requesting for the approval of 2016-2018 External Borrowing to the tune of $30billion to be spent by the Federal Government to execute key Infrastructural projects across the country.
The letter, which was dated November 26, 2019, was read on the floor of the Red Chamber by the President of the Senate, Dr Ahmad Lawan, during plenary.
In the letter, President Buhari explained that it became imperative to represent the request because the Eighth National Assembly approved only a part of the External Borrowing request forwarded to it in September, 2016.
Adeola said, “The approval of the loan would afford the government, an opportunity to achieve the completion of the projects before the end of the Buhari’s administration.
“The borrowing plan would assist the government to fulfill its promise to Nigerians.
“The plan is not only for one or two years, it is for the next four years. So, the loan would be taken in tranche.
“For instance, what the government desire to borrow in 2020, would be requested in 2020. That is why it is called a plan. The Senate will monitor its utilization as soon as they are coming in.
“The Federal Government is not asking the National Assembly to approve for it, the sum of $29.96billion loan. This is because in the last Senate, about $6billion have been approved for President Muhammadu Buhari to borrow out of the $29.96billion.
“It is the balance of that figure that the government is asking us to approve for it in the borrowing plan, which is about $22.6billion. The Senate Committee on Finance will organise a public he aring on the issue if need be. In the alternative, we would engage the various agencies of the government to give them a clearer view of how the money would be utilized.

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Victory Over Insurgency Certain, Tinubu Assures

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President Bola Tinubu has expressed confidence that the country would win the fight against insecurity.

The President gave the assurance at the Argungu International Fishing Festival in Argungu town, Kebbi State, on Saturday.

He noted that the relative peace currently being enjoyed in Kebbi and neighbouring states was the result of sustained investments in security intelligence, coordination among security agencies, and community engagement.

Tinubu assured farmers and fishermen of sustained federal support to guarantee food security and safety across the country.

“The peace we are witnessing today is not accidental. It is the outcome of deliberate and sustained efforts. I assure you that the fight against banditry, insurgency, and insecurity will be won.

“Our farmers, fishermen, traders, and families will go about their lawful activities without fear,” he assured.

The President commended the organisers of the festival for sustaining the cultural event for decades, noting that it had endured for 83 years despite social and security challenges.

Describing the Argungu festival as a powerful symbol of unity, resilience, and peaceful coexistence, Tinubu stated that it reflects the richness of the country’s culture and the opportunities to harness its natural and human resources for national growth.

He said, “Today, this festival stands as a powerful symbol of unity, resilience, and peaceful coexistence among our people.

“It reflects the richness of our culture, the strength of our traditions, and the opportunities inherent in harnessing our natural and human resources for national development.”

The President was received by a large crowd of residents, traditional rulers, fishermen, tourists, and government officials from across the country.

The President reaffirmed his administration’s commitment to youth and women empowerment, irrigation development, rural electrification, and agricultural productivity.

Earlier, the Kebbi State Governor, Nasir Idris, said his administration was determined to elevate the Argungu Fishing Festival to full international standards while pursuing aggressive development across critical sectors of the state.

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US Embassy, Lagos Consulate Close Today For President’s Day

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The United States Embassy in Abuja and the Consulate General in Lagos will be closed today, in observance of Presidents’ Day.

The mission made this known in a notice shared on its official X page, yesterday.

“The U.S. Embassy in Abuja and the Consulate General in Lagos will be closed on Monday, February 16, 2026, in observance of Presidents’ Day,” the post read.

According to the embassy, Presidents’ Day was originally established to honour the birthday of the former US President, George Washington, but has evolved into a day to celebrate all U.S. presidents and their leadership in shaping the country’s history.

The embassy noted that the holiday also recognises the influence of U.S. presidents on global affairs.

In a related message, the mission highlighted that Washington created the first “Badge of Military Merit,” which later became the Purple Heart. The medal still bears Washington’s image today.

Presidents’ Day is observed on the third Monday of February annually in the United States as a federal holiday.

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Guterres Backs Nigeria’s Bid For UN Security Council Seat …Hails Tinubu’s Reforms, Regional Security Role

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United Nations Secretary-General, António Guterres, has charged Nigeria with spearheading Africa’s quest for a restructured global order, describing the country as uniquely positioned to lead the continent toward superpower status.

Guterres, who backed Nigeria’s bid for the world body’s security council seat, also praised the economic reforms of the President Bola Tinubu-led administration as well as Nigeria’s leadership in stabilising the Sahel and ECOWAS regions, despite facing its own security challenges.

The UN scribe made the remarks last Friday night during a high-level bilateral meeting with Vice President Kashim Shettima on the sidelines of the 39th African Union (AU) Summit in Addis Ababa, Ethiopia.

Speaking during the meeting, Guterres said Nigeria’s large population, sustained democratic governance, vast natural and human resources, and longstanding commitment to multilateralism placed it in a unique position to lead Africa in the evolving global order.

“Given Nigeria’s demographic strength, democratic continuity and deep resource base, the country stands a real chance of leading Africa to becoming the next superpower in the evolving global architecture,” he said.

The UN Secretary-General and the vice president discussed key developments in Nigeria and the country’s expanding leadership role in promoting regional stability across West Africa and the Sahel.

Guterres commended the remarkable and outstanding reforms of the administration of President Tinubu, noting that Nigeria’s bold economic restructuring and security commitments have strengthened its continental standing.

The meeting focused on strengthening Nigeria–UN collaboration to advance global economic growth, peace and security, sustainable development, and a coordinated humanitarian response across Africa.

In his remarks, Shettima thanked the UN Secretary-General for his leadership in advancing global peace, noting that Africa has benefited immensely from his tenure, even as the United Nations undergoes internal restructuring.

“We remain committed to multilateralism and to deepening our partnerships with the United Nations and other global institutions,” the vice president said.

Shettima also reiterated Nigeria’s longstanding call for comprehensive reform of the United Nations system to reflect evolving global realities.

He emphasised that Africa must have stronger representation in global decision-making structures and declared that Nigeria deserves a permanent seat on the United Nations Security Council.

Both leaders pledged to deepen cooperation, with Guterres reaffirming the UN’s support for Nigeria’s reform agenda and its growing leadership role in advancing peace, security, and development across Africa.

 

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