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Buhari Seeks Senate’s Approval for N402 Billion Promissory Notes

Buhari Seeks Senate’s Approval for N402 Billion Promissory Notes

President Muhammadu Buhari in separate letters of request, on Tuesday, sought the approval of the Senate for the issuance of promissory notes totaling over N402 billion.

The first of such requests read at the plenary by Ahmad Lawan, the Senate president, was N375 billion meant for settling outstanding claims owed various exporters.

Other similar debt payment requests to be routed through Debt Management Office (DMO) is N6.706 billion, and N2.706 billion for the Kebbi and Taraba governments for the construction of federal roads within the states.

President Buhari in another request read at the plenary by Lawan, also sought approval from the Senate on the issuance of N18.623 billion for the Kebbi State government.

Buhari in the letter said payment of N18.623 billion to Yobe through the Debt Management Office will help the state to offset all monies, expended on execution of five different federal roads in the state.

In another letter, the president also requested the Senate to confirm the appointment of Mohammed Sabo Lamido as executive commissioner, finance and accounts of the Board of Upstream Regulatory Commission.

Lamido’s appointment as explained by the president in his letter was necessitated by the death of Hassan Gambo who served in that capacity before his death.

 

Promissory notes

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