Reps concur with Senate to approve $1.5billion, €995million for FG

Reps concur with Senate to approve $1.5billion, €995million for FG

On Thursday, April 29, the House of Reps approved the request by Muhammadu Buhari’s administration to borrow $1.5billion and €995million external loans.

The approval was sequel to the consideration of the report of the Reps committee on Loans Aids, Loan and Debt Management by the Committee of Supply.

The Senate had approved the loan last week; which according to the House will be used to facilitate priority projects of the government.

The Chairman of the committee, Ahmed Safana said the committee did due diligence on the loan request by the President.

In addition, the Reps asked the executive to submit the terms and conditions of the loan to the National Assembly.

“That the terms and conditions of the loans from each Lender; as contained in a duly executed Loan Agreements be forwarded to the National Assembly for proper documentation,” the House recommended.

Meanwhile, the Imo State Government has refuted reports pf the closure of the Eastern Palm University) Ogboko, Ideato South LGA, for the 2020/2021 academic session over an alleged feud between Governor Hope Uzodinma and Senator Rochas Okorocha.

Reports earlier had stated that this closure was announced by the Vice-Chancellor; Prof Tola Badejo, who briefed journalists in Owerri, the state capital, on Wednesday, April 28.

Badejo had reportedly said that the decision was taken to safeguard the lives of the students and staff; as well as the property of the varsity.

Also Read: INEC announces Feb 18 date for commencement of 2023 polls

He disclosed that the institution took the decision; following the ownership crisis between Okorocha and the Imo state government.

However, in a statement issued on Wednesday, April 29; Prof. Bernard Thompson O Ikegwuoha, the Imo State Commissioner for Education stated that; “unknown person issued the press release suspending all academic activities at the Kingsley Ozuomba Mbadiwe University (formerly Eastern Palm University) Ogboko, Ideato South LGA, for the 2020/2021 academic session.

“All staff, students, parents, guardians, stakeholders, and the general public are advised to disregard such illegal; unauthorised and unlawful press release and go about their normal and legitimate academic activities.

“There is no court order or judgement against the Imo State Government on the ownership of Kingsley Ozumba Mbadiwe University, Ogboko, Ideato South LGA.”

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *