The Senate has approved the sums of 7.8 billion dollars and 100 million euros in President Bola Tinubu’s proposed 2022-2024 borrowing plan.
President Tinubu had requested early approval of the plan to ensure the prompt implementation of projects, and these funds will be used to address current economic challenges and carry out various projects across different sectors of the economy.
“The projects cut across all sectors with specific emphasis on infrastructure, agriculture, health, education, water supply, security and employment as well as financial management reforms, among others.
“The total facility of the projects and programmes under the borrowing plan is $7,864,508,559 dollars and then in euro, €100 million respectively.
“The senate is invited to note that following the removal of fuel subsidy and its impact on the economy in the country, African Development Bank and the World Bank Group have indicated interest to assist the country in mitigating the economic shores and recent reforms with a sum of $1 billion and $2 billion respectively.
“In addition, the Federal executive council approved the 2022-2024 external borrowing plan. Consequently, the required approval is in the sum of $7,864,508,559 dollars and in terms of euro, €100 million”, Tinubu said.
Projects would be carried out in every State as well as the federal capital territory, the president continued.
In line with Section 154(1) of the Constitution, Tinubu had requested confirmation of the nomination of the ten resident electoral commissioners for the Independent National Electoral Commission.
The Senate had started the screening process, according to Senate President Godswill Akpabio.
Seven of the nominees were appointed as Residents Electoral Commissioners by the Senate.
The following nominees have been approved:
Mr. Abubakar Ahmed from Gombe;
Shehu Wahab from Kwara;
Aminu Idris from Nasarawa;
Mr. Etekamba Umoren from Akwaibom;
Mr. Isha Ehimeakne from Edo;
Barr. Oluwatoyin Babalola from Ekiti; and Mohammed Abubakar Sadiq from Niger.
The screening did not feature the remaining three nominees as they were not present.
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