Jonathan gets Senate nod for 2nd Niger bridge loan

Senate chamber

The Nigeria Senate approved the request of President Goodluck Jonathan for the increment of the Diaspora Bond from $100 million to $300 million on Tuesday.

The Chairman, Joint Committee on Local and Foreign Debts and Finance, Ehigie Uzamere, representing Edo South senatorial district said the increase in the bond was aimed at using proceeds from the bond to construct capital projects.

Some of the capital projects include the second Niger Bridge, Lagos-Ibadan Expressway and the Abuja Medical City.

“The concept of raising funds through Diaspora bond has been employed by several countries over the years with tremendous success,” Mr. Uzamere said. “The committee believes the projects that the Federal Government has chosen to utilize the funds are critical infrastructures that will impact on the economy positively.”

Mr. Uzamere said the dwindling oil price and the need for economic diversification were part of the considerations that guided the committee’s recommendation for approval.

He added that the increment would enable Nigerians in Diaspora an opportunity to contribute to the development of the country.

According to him, if the bond was left at $100 million, interested Nigerians in Diaspora would be denied the opportunity to invest in the country.

“The increment of Diaspora bond is in line with public debt management strategy,” he said. “It will afford Nigerians in Diaspora the opportunity to invest in the development of the country, while earning good returns for their investment. The committee found that the $100 million Diaspora Bond passed in the Borrowing Plan of 2012 – 2014 was too small hence the decision to recommend the increment.”


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  • Maitama Tambari

    Ndigbos, are you reading this mystery that alluded the Second Niger Bridge promised you in 2011 election. It is now opened again when another election that remains twelve days to come that loan, not Government appropriation, loan from diaspora, not Nigeria but diaspora. It is a long term Diaspora Bond to build the bridge. How many Christmas before Ndigbos suffering will end. It could be another broken promises because this would be the last term of the promissory. WE BELIEVE CHANGE! YES WE CAN IN NIGERIA. ALI MUST GO. YES JONATHAN MUST GO.

  • Dazmillion

    A big shame on Ohanaeze Ndigbo and the rats that comprises its leadership

  • Eberechi Ezeh

    Carry go GEJ build another brige for us

  • Kay Soyemi (Esq.)

    Why should the 2nd Niger Bridge be included in the proposed spending plan for this ‘loan’ when the same bridge has also been “approved” and touted as a “Transformation Achievement” using the PPP model?

    The PPP model was the reason you claim the Igbo will pay toll on the same bridge.

    Mr. President, it seems you and your team are getting too confused by the too many lies you are issuing!

    Which one is it? And did you not list the Lagos – Ibadan Expressway as another phantom achievement?

    Na wa, Oga Jonothing.

    • Damilare Ajani

      They are scammers. I am in diaspora and will never invest my dime on this.

      • Kay Soyemi (Esq.)

        lol

        Can’t blame you, bruv.

  • Maryam

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  • Johnboye

    Well said!

  • Nurudeen Salis

    Well said sir! You’ve earned my respect for addressing the true nature of this situation you mentioned both CRK and IRS were removed unlike that of apostle Suleiman who is claiming it to be a move by G.M.B (general Muhammad buhari) to islamize Nigeria

  • You are right, Sir! Let us go back home! Where are our fathers? Where are our mothers?