House of Representatives on Wednesday approved the $1bn loan request by President Goodluck Jonathan to equip the Armed Forces and train personnel for the ongoing war against insurgency.
Members considered and adopted in plenary, the report on the loan earlier submitted by the Joint Committee on Aids/Loans/Debt Management and Finance.
The first recommendation of the committee was “approve the request of Mr. President on the need for his administration to borrow not more than $1bn for the purpose of tackling the current national security challenges.”
However, the House asked the Office of the National Security Adviser to provide the breakdown of the share of the loan to the Nigerian Army; Nigerian Air Force; Nigerian Navy; Nigeria Police Force; and the Department of State Services.
The Minister of Finance, Dr. Ngozi Okonjo-Iweala, was also directed to to provide information on the “source of funds, terms and conditions of the loan (vis-a-vis the tenor, interest repayment, etc) to the Committees on Aids, Loans/Debt Management and Finance” within one week.
A move by an All Progressives Congress lawmaker from Rivers State, Mr. Andrew Uchendu, to stop the approval failed, as he was overruled.
Uchendu had said his understanding of the report was that the “attached conditions” should be met before the House approved it.
But, the presiding Deputy Speaker, Mr. Emeka Ihedioha, overruled him.
Ihedioha noted that the issue had gone beyond debating afresh, advising Uchendu to either vote to support the approval or vote against it.
An amendment Uchendu proposed, calling for the conditions to be met before the approval, was also defeated in a majority voice.
Members later voted and approved the $1bn loan request.
Source: Punch
No comments:
Post a Comment