Di Senate don approve say make President Bola Tinubu borrow $500 million give Bureau of Public Enterprises (BPE) to take do electricity meter program wey go make di electricity distribution companies (DisCos) perform beta for money matter and technical side. Dis na under di World Bank Nigeria Distribution Sector Recovery Program (DISREP).
As im dey present di report, di Vice Chairman of di committee, Senator Haruna Manu, PDP Taraba Central, tok say: “Di Senate don approve di sum of $500,000,000 (Five Hundred Million United States Dollars) for di ongoing negotiation of external borrowing for Bureau of Public Enterprise, BPE.
“Dis $500 million loan na part of di $7.94 billion loan wey President Bola Tinubu bin ask Senate to approve on November 1, 2023, under di 2022-2024 external borrowing plan. Di President still ask for approval of €100 million join.
“But for December 30, Senate come approve to borrow $7.4 billion during dia special plenary afta dem don look di report wey di Committee on local and foreign debt bring come.”
Manu still tok say di way wey dem take bring di loan no go affect how Nigeria economy dey grow or stop Nigeria independence as kontri wey dey rule imsef.
Im still yarn say, “Di Senate of di Federal Republic of Nigeria go remember say for November 1, 2023 plenary, dem read one letter from Oga President wey im dey ask make dem approve di Federal Goment 2022-2024 External Borrowing Plan.
“Di external borrowing plan get request for approval of $7,944,508,559.00 and Euro 100,000,000 as free money component.
“Dem send di letter and di schedule wey follow am go Committee on Local and Foreign Debt make dem look am well-well.
“For December 30, 2023, dem bring one report (No. 1) from dis Committee wey recommend say make dem approve $7,444,508,559.00 and £100,000,000.00 from di total money of $7,944,508,559.00 wey dem bin propose.
“Di committee no gree look di project and money matter for Bureau of Public Enterprises because dem no show face wen di committee invite dem to come defend di project wey dey for di external borrowing plan.
“Afta di committee don resume to look di request wey remain, and afta dem don tok and check am well-well, di committee don submit dia report now and dey ask make Senate approve wetin dey inside.
“Wetin Oga President dey ask dey follow wetin Debt Management Office (Establishment) Act 2003 (DMO) and Fiscal Responsibility Act 2007 (FRA) tok, wey be say di President must ask National Assembly and dem must gree before im fit borrow money, and di National Assembly must decide on top di request thru resolution.”
