Less than two weeks after it rejected President Muhammadu Buhari’s 2016-2018 External Borrowing Rolling Plan request of $29.96 billion, the Senate has returned the proposal to the Presidency.
The Senate has also returned the Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) of 2017-2019 to Buhari.
Daily Sun could not immediately ascertain when the two documents were sent back.
On November 1, 2016, the Upper Chamber during plenary, unanimously rejected the loan request. Two days later, it rubbished the President’s MTEF and FSP, describing the documents as empty.
Observers believe that the failure of the executive to submit supporting documents to the loan request and the MTEF/FSP for examination was the reason for the rejection
The Senate leadership in delaying processing of the 2017 Budget, had hoped to resolve some of the outstanding issues of disagreements ahead of the budget’s presentation.
When the loan request was rejected, lawmakers were silent on why the borrowing plan was defeated. However, findings by Daily Sun, revealed that the Senate’s action was as a result of the non-attachment of the breakdown of the $29.9 billion external borrowing plan sent to the house.
Another reason for the rejection was the refusal of the President to send the 2016-2018 borrowing plan contained in the last paragraph of the letter.
“The President had in the letter said there was an attachment containing the breakdown of the external loan request. But there was no attachment. President Buhari did not attach the breakdown. There is no way we can consider such a request,” a source said.
“Secondly, the President has not sent the 2016-2018 borrowing plan to the Senate. That ought to have been done first for consideration and passage before this request. If we consider this request, how do we do that? These are the obvious reasons. There is no political undertone here,” the lawmaker said.
Part of the first paragraph under dispute read: “I wish to refer to the above subject and to submit the attached draft of Federal Government 2016-2018 External Borrowing (Rolling) Plan for consideration and early approval by the National Assembly to ensure prompt implementation of the projects…”
Senate Leader Ali Ndume had argued that the documents were shallow and could therefore not be approved.
“We received the MTEF on September 30 instead of submitting it according to law by September 1, not later than. That is not even the problem. I have a copy, I went through and the copies have been circulated. I talked to some experts. Even in this chamber, we have people we can call experts,” he said then.
souce: Sunnewsonline
Less than two weeks after it rejected President Muhammadu Buhari’s 2016-2018 External Borrowing Rolling Plan request of $29.96 billion, the Senate has returned the proposal to the Presidency.
The Senate has also returned the Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) of 2017-2019 to Buhari.
Daily Sun could not immediately ascertain when the two documents were sent back.
On November 1, 2016, the Upper Chamber during plenary, unanimously rejected the loan request. Two days later, it rubbished the President’s MTEF and FSP, describing the documents as empty.
Observers believe that the failure of the executive to submit supporting documents to the loan request and the MTEF/FSP for examination was the reason for the rejection
The Senate leadership in delaying processing of the 2017 Budget, had hoped to resolve some of the outstanding issues of disagreements ahead of the budget’s presentation.
When the loan request was rejected, lawmakers were silent on why the borrowing plan was defeated. However, findings by Daily Sun, revealed that the Senate’s action was as a result of the non-attachment of the breakdown of the $29.9 billion external borrowing plan sent to the house.
Another reason for the rejection was the refusal of the President to send the 2016-2018 borrowing plan contained in the last paragraph of the letter.
“The President had in the letter said there was an attachment containing the breakdown of the external loan request. But there was no attachment. President Buhari did not attach the breakdown. There is no way we can consider such a request,” a source said.
“Secondly, the President has not sent the 2016-2018 borrowing plan to the Senate. That ought to have been done first for consideration and passage before this request. If we consider this request, how do we do that? These are the obvious reasons. There is no political undertone here,” the lawmaker said.
Part of the first paragraph under dispute read: “I wish to refer to the above subject and to submit the attached draft of Federal Government 2016-2018 External Borrowing (Rolling) Plan for consideration and early approval by the National Assembly to ensure prompt implementation of the projects…”
Senate Leader Ali Ndume had argued that the documents were shallow and could therefore not be approved.
“We received the MTEF on September 30 instead of submitting it according to law by September 1, not later than. That is not even the problem. I have a copy, I went through and the copies have been circulated. I talked to some experts. Even in this chamber, we have people we can call experts,” he said then.
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Monies collected from looters nko?,how did he want to hand over to the next president? on an "i.o.u" level? haba!
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