ADVERTISEMENT
  • The Membership Club
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Thursday, April 22, 2021
Premium Times Nigeria
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • COVID-19
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • COVID-19
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT

Vice President, Yemi Osinbajo

Osinbajo’s $1.5 billion loan meant for Kaduna, Ebonyi, Abia, Ogun, six other states

byTaiwo-Hassan Adebayo
June 6, 2017
2 min read
ADVERTISEMENT

Acting President Yemi Osinbajo, on Tuesday, requested the bicameral National Assembly to consider and grant 10 states of the federation accelerated approval to borrow a total sum of $1.5 billion from multilateral agencies and France.

The states’ loans requests were parts of the 2016-2018 External Borrowing (Rolling) Plan whose approval the presidency had sought since last August.

“I write in reference to my earlier letter requesting for the consideration and approval of the Senate (and House of Representatives) for the 2016-2018 External Borrowing Rolling Plan and to request the Senate (and the House) to separate the States’ Projects from the items listed therein with a view to giving them accelerated consideration,” Mr. Osinbajo wrote in his letter to both Senate President Bukola Saraki and Speaker Yakubu Dogara.

The letter, dated June 1, 2017, was read in both chambers of the National Assembly on Tuesday.

Mr. Osinbajo sought approval of the lawmakers to allow Kaduna State and Ogun State access $350 million each for their respective State Development Policy Operation (DPO) from the World Bank.

Ebonyi and Abia States are also to secure $70 million (for Ebonyi Ring Road Project) and $100 million (for Abia Rural Access and Mobility Project) from a credit facility to be co-financed by the African Development Bank and the Islamic Development Bank, Mr. Osinbajo further told the National Assembly.

Then, according to the acting president, the Islamic Development Bank is proving $422.4 million loan facility to finance projects in four states as follows: Katsina, Health System Project, $110 million; Jigawa, Integrated Rural Development Project, $32.4 million; Ebonyi, Ring Road Project (to be co-financed with the AfDB), $80 million; and Kano, Integrated Agricultural and Water Resources Development, $200 million.

Finally, for their respective Third National Urban Water Sector Reform Project (NUWSRP-III) Plateau, Enugu, Kano and Ondo States are looking forward to accessing $200 million from the French Development Agency.

The proposed states loans amount to $1,492,400,000.

RelatedNews

Oyetola inaugurates committee to tackle illegal mining

Makinde approves N279.5 million for LG election ballot papers

GTB’s first-quarter profit drops N4.5 billion as interest income wanes

Group urges CBN to halt confiscation of cards withheld by ATM

 

Mr. Osinbajo told the National Assembly “it will be highly appreciated if could kindly give this request an expedited consideration and approval to enable states meet up with all other effectiveness conditions for the implementation of the projects in their respective states.”

Since last August when President Muhammadu Buhari first sent the $30 billion 2016-2018 borrowing plan to the National Assembly, no part has ever got the statutorily required legislative approval.

In April, the president wrote the lawmakers, further to the last year’s initial letter, seeking approval to secure about $6.4 billion dollar loans from the World Bank and China to fund infrastructural objectives across the country and combat polio outbreak in the North-East.

TEXEM

While that request is still pending, the June 1 letter, read on Tuesday, was sent to seek approval for 10 states to secure loans.

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401...


JOIN THE CONVERSATION

  • Disqus (23)
premiumtimes



PT Mag Campaign AD

Previous Post

Court orders permanent forfeiture of N13 billion recovered from Ikoyi property

Next Post

Police arrest four suspects carrying 4,555 National Identity Cards

Taiwo-Hassan Adebayo

Taiwo-Hassan Adebayo

More News

Lagos State Governor, Babajide Sanwo-Olu [PHOTO CREDIT: @jidesanwoolu]

Courts Shutdown: Lagos JUSUN breaks ranks, announces partial suspension of strike

April 22, 2021
Governor Bello Matawalle of Zamfara State [Photo: NAN]

At least 83 killed as bandits strike again in Zamfara

April 22, 2021
ANALYSIS: One in five Nigerian state governors attended this university

ANALYSIS: One in five Nigerian state governors attended this university

April 22, 2021
World Health Organisation (WHO) Director-General, Tedros Ghebreyesus at the coronavirus press conference in Geneva

WHO mulls next steps in COVID-19 origins probe

April 22, 2021
Nigerian Police officers on duty [Photo credit: Today.ng]

‘Cattle traders’ kidnap, kill man 10 days to his wedding – Police

April 22, 2021
Emeka Kennedy

Police Brutality: ‘How SARS finished me’ – Victim

April 22, 2021
Next Post
National ID card used to illustrate the story

Police arrest four suspects carrying 4,555 National Identity Cards

Russia announces imminent attacks on Aleppo by aircraft carrier

Russia scrambles jet fighter to intercept U.S. bomber over Baltics

Discussion about this post

Search

#EndSARS: Latest Updates




Polaris Bank


JAIZ Ad


Explore Akwa Ibom Ad


Explore Akwa Ibom Ad


Access Bank Ad


NITDA Ad





Glo Ad

Subscribe to News via Email

Enter your email address and receive notifications of news by email.

Join 1,655,973 other subscribers.

Advertisement






netherland biz school Advert



Zenith Advert

ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • Dubawa
    • Dubawa NG
  • About Us
    • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.