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Buhari seeks Senate’s approval for $4bn, Euro 710m to fund budget

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President Muhammadu Buhari on Tuesday sought the National Assembly’s approval of a fresh loan of $4.1bn and Euro 710million to finance critical projects in the 2021 budget.

He also requested the legislature’s nod for a grant of $125million to fund the budget which is being awaited by the National Assembly.

The sums are contained in Buhari’s letter read by Senate President Ahmad Lawan to members of the upper legislative chamber at plenary. The members resumed yesterday after a two-month annual vacation.

According to the President, the request is an addendum to the proposed 2018 – 2021 Federal Government External Borrowing Rolling Plan earlier approved by the National Assembly.

He explained that the projects are listed in the addendum to the 2018 – 2021 Federal Government External Borrowing Rolling Plan. They are to be financed through loans from the World Bank, French Development Agency, China Exim Bank, International Fund for Agricultural Development (IFAD) and Credit Suisse Group, among others.

The President’s letter to the Senate was titled: “Addendum to the request for Senate’s concurrent approval of multilateral fund projects under the 2018-2021 Federal Government external borrowing (rolling) plan.”

It reads: “I write in respect of the above subject and to submit the attached addendum to the proposed 2018-2021 Federal Government external borrowing (rolling) plan for the consideration and concurrent approval of the Senate for same to become effective.”The distinguishing Senate President may wish to recall that I earlier transmitted a request on the proposed 2018-2020 Federal Government External Borrowing Plan for the concurrent approval of the Senate in May 2021.

“However, in view of other emerging needs and to ensure that all critical projects approved by FEC as of June 2021 are incorporated. I hereby forward an addendum to the proposed borrowing plan.

“The projects listed in the addendum to the 2018-2021 Federal Government External Borrowing Rolling Plan are to be financed through sovereign loans from the World Bank, French Development Agency, China Exim Bank, International Fund for Agricultural Development (IFAD) and Credit Suisse Group and Standard Chartered/China Export and Credit (SINOSURE), in the total sum of $4,054,476,863 plus Euro 710,000,000. and grant component of $125,000,000.00.

“The Senate is kindly invited to note that the projects and programmes in the borrowing plan were selected based on positive, technical and economic evaluations and the contribution they would make to the socio-economic development of the country including employment generation and poverty reduction as well as protection of the most vulnerable and very poor segments of the Nigerian society

“The Senate may also wish to note that all the listed projects in the addendum form part of the 2018-2021 External Borrowing Plan and covered both the Federal and States Government Projects and are geared towards the realisation of the Nigeria Economic Sustainability Plan that cut across key sectors such as infrastructure, health, agriculture and food security, energy, education, and human capital development and COVID-19 response efforts.

“A summary of some key projects in each of the six geo-political zones and a summary of the expected impacts on the socio-economic development of each of the six geo-political zones are attached herewith as Annex II and III

“Given the importance attached to the timely delivery of the projects listed in the proposed Borrowing Plan and the benefits both the Federal and state governments stand to gain from the implementation of the same.

“I hereby wish to request for the kind consideration and concurrent approval of the Senate for projects listed in the addendum to the 2018-2021 Federal Government External Borrowing (Rolling) Plan to enable the projects to become effective.”

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PHOTOS: Fani-Kayode dines at residence of another Buhari’s Minister

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Since Thursday when his defection to the All Progressives Congress (APC) was made public, Femi Fan-Kayode, former Minister of Aviation, has been under fire.

From Social media to traditional media, the former critic of President Muhammadu Buhari and the ruling party, has been lampooned.

But FFK has waved critics aside, sharing pictures of his visit to the residences of key APC figures.

On Saturday, he released pictures of his visit to Ali Isa Pantami, Minister of Communication and Digital Economy, whom he had labelled a terrorist and asked Buhari to sack a few months ago.

While the dust raised by the post is yet to settle, Fani-Kayode released fresh pictures of his visit to the residence of George Akume, Minister of Special Duties.

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Armed gang invade Lagos streets, injure many, loot shops

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Mushin area of Lagos State was yesterday, thrown into commotion as some armed gang invaded some streets, inflicting injuries on residents and destroying property worth millions of naira.

It was gathered one person died in the mayhem that forced churches within the affected communities to close for fear of being attacked.

Information had it that a notorious armed robber was arrested sometime by the police and was transferred to Abuja. But his release was allegedly facilitated by some big shots he worked for.

After his release, his loyalists from the Idi-Araba area of the state reportedly invaded some areas of Mushin to attack some persons whom they accused of being the cause of his arrest. The areas affected were Alafia, Daniel and Morgan.

A resident, who simply gave his name as Mitchy, explained that “the fight has been going on since midnight (Saturday)and the perpetrators came from Idi-Araba. This has been happening for almost six months. But last night and today’s(Sunday) were the most violent.

“Surprisingly, the armed thugs were teenagers between 16 and 19 years. They looted people’s shops and carted away goods. They were armed with machetes, guns and bottles.

“Holy Trinity Anglican Church at Alafia junction and Christ Gospel Apostolic Church on Da-Silva street could not conduct Sunday service.”

It was gathered teams of policemen from the Tactical Unit of the Lagos State Police Command were ordered by the Commissioner of Police, CP Odumosu to contain the situation.

When contacted, the command spokesman, CSP Ade Ajisebutu, said 15 suspects had been arrested in connection with the clash. He said axes, cutlasses and expended cartridges were recovered in the process.

According to Ajisebutu, “Normalcy has returned to the area. CP Odumosu has assured residents to go about their lawful businesses. At the end of an investigation, the suspects will be charged to court.”

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Ondo Govt seals off Shoprite, popular market

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The Ondo State Government has sealed off Shoprite and the neighborhood market in Akure, the Ondo State capital.

The popular facilities were sealed on Monday by the Ondo State Waste Management Authority, ODSWMA, over what was described as unsanitary and unhygienic practices.

A few days ago, the agency had taken similar action against five notable buildings in the state for flouting the environmental laws of the state.

Shoprite, which is located on Igbatoro road in Akure and the Neighborhood market at NEPA axis of the State capital, were accused of ignoring a series of warnings from the agency.

The General Manager of the Authority Mrs Ayo Adeyemo, who disclosed this, said the owners of the affected facilities violated environmental laws and failed to comply with the laid down hygienic practices.

Adeyemo, who maintained that further sanctions would be taken, warned that anyone found culpable will not be spared

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