Gbajabiamila explains rationale behind suspension of Buhari’s $22.7bn loan request

Gbajabiamila explains rationale behind suspension of Buhari’s $22.7bn loan request

The Speaker of the House of Representatives, Femi Gbajabiamila on Wednesday, March 18; revealed why the lawmakers issued a suspension regarding the Federal Government’s request to borrow $22.7 billion foreign loan.

He further confirmed that the protest by the South-East region that they were not included as beneficiaries of the loan may be amongst one the reasons for the suspension.

Gbajabiamila, who stated this when he hosted Leaders of Faith Forum from the South-South and South-East in Abuja.

He also explained the efforts of the Reps to address complaints by the South East.

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He told the clerics, “I want to say that please do not forget us in your prayers. We should never cease in prayers. For those of us who are in the eye of the storm in government, we will really love that. Keep us in your prayers.

“We can have continuous engagements. This is the first, but hopefully not the last. I like the fact that you’re involved in issues of politics and governance. From time to time, you need to borrow us your wisdom and knowledge in those areas.”

Responding to the position of the Leaders of Faith Forum that the Nigerian Government should completely jettison the idea of taking a foreign loan of $22.7bn at this time; Gbajabiamila said the issue is debatable and that government should be given the benefit of the doubt.

On what the Reps is doing to address the protest by the South East over the loan; the Speaker said that he had personally spoken with the Finance Minister and the Director-General of the Budget Office to find a solution.

“You said there is no need for the loan at this time, but that itself is debatable. If the government believes that there’s a need for the loan, I think we should support that; because they know as they’re the ones that see what is needed and what is not needed.

“What I think for me is more important is the equity of the law and whether or not we’re able to distribute these things fairly considering the very nature of the structure of our country.

“I know there has been a lot of agitation about Southeast not benefiting from the loan. It is one of the reasons we haven’t considered the loan in the House. I’ve discussed with the Finance Minister and the DG Budget.

“It’s a matter that we’re looking at seriously. I’m hoping that there will be some kind of amicable resolution so that everybody will be carried along. Equity suggests that all zones must be carried along.

“With the quality of members that you have and the generality of the House, we’ll work towards a fair resolution of the issue so that it leads to something that will bring us together and unite us as a country,” he said.

Gbajabiamila added that the House was already addressing the issues of open grazing, insecurity, among others as raised by the clerics.

He, then, challenged them to come up with alternatives and possible solutions to any issue that they are not at home with.


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