Politics
Buhari Seeks Senate’s Approval For Additional External Loans
President Muhammadu Buhari has sought approval of Senate for additional external loan under the 2018 to 2021 Federal Government external borrowing plan.
Buhari’s request was contained in a letter addressed to President of Senate, Ahmad Lawan and read at plenary, yesterday.
Buhari in the letter said the loan which would be sourced from the multilateral organisations would be used to finance critical projects of the Federal and States governments.
“Addendum to the Request for Senate concurrent approval of Multilateral Fund Projects under the 2018 to 2021 Federal Government external borrowing plan.
“I write on the above subject to submit attached addendum to the proposed 2018 to 2021 Federal Government external borrowing rolling plan for the consideration and concurrent approval of the Senate.
“Senate may wish to recall that I had earlier transmitted a request from the proposed 2018 to 2020 Federal Government external borrowing plan for the concurrent approval of Senate in May 2021.
“However, in view of other emerging needs and to ensure that all critical projects are covered, the Federal Executive Council as at June 2021 incorporated.
“I hereby forward an addendum to the proposed external borrowing plan.
“The projects listed in the addendum to the 2018 to 2021 Federal Government external borrowing plan are to be financed through sovereign loans from the World Bank, French Development Agency, China Exim Bank, International Fund for Agriculture Development (IFAD),Credit Swiss Group, and Standard Chartered, in the credit total sum of 4.5 billion dollars,710 million euros and grant component of 125 million dollars.
“The Senate is kindly invited to know that the projects and programmes in the borrowing plan were selected based on positive technical and economic evaluations and the contributions that will make the socio- economic development of the country including, employment generation and poverty reduction and protection of the most vulnerable in the society.
“All the said projects in the addendum, form part of the 2018-2021 external borrowing plan and covered all the Federal and state governments projects and are geared toward realisation of Nigeria’s sustainability plan.”
Buhari said the sustainability plans cuts across key sectors, such as infrastructure, health, agriculture and food, security energy, education and human capital development.
He urged the senate to give consideration and approval to the request, given the timing and benefits due to be accrued to the implementation of the projects across the country.
Politics
Tinubu Flags Off 2027 Re-election Campaign In Kaduna
The campaign rally, held at the Kaduna Township Stadium, attracted Vice-President Kashim Shettima, APC governors, party leaders, federal and state lawmakers, political stakeholders and supporters from across the country.
The flag-off marks the beginning of the APC’s drive to secure a second presidential term for President Tinubu, with the party expected to promote its achievements, defend its economic reforms and outline its policy priorities under the proposed Renewed Hope 2.0 agenda.
Kaduna’s selection for the campaign launch underscores the strategic importance of the North-West, a region with a substantial voting population and considerable influence on presidential election outcomes.
The APC faces a significant challenge in Kaduna, where the Peoples Democratic Party’s presidential candidate, Alhaji Atiku Abubakar, defeated President Tinubu in the 2023 election. The rally therefore provides the ruling party an opportunity to strengthen its grassroots structures and regain electoral support in the state.
Addressing supporters, Vice-President Shettima appealed to Northern voters, highlighting President Tinubu’s political relationships with prominent Northern leaders, including Alhaji Abubakar, Mallam Nuhu Ribadu and the late President Muhammadu Buhari.
The Vice-President’s appeal reflects the APC’s determination to consolidate its support in the North as the party intensifies preparations for the presidential contest.
The Renewed Hope 2.0 agenda is expected to feature prominently in the campaign, providing a platform for President Tinubu to explain his administration’s economic policies and outline plans for another term.
However, the President’s record on economic reforms, rising living costs, petrol prices, employment, infrastructure and insecurity is expected to attract considerable scrutiny during the electioneering period.
Politics
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