Acting President Yemi Osinbajo, on Tuesday, sought the
approval of the House of Representatives for a US1.5 billion loan for 10
states.
The loan is part of the2016-2018 External Borrowing
(Rolling) Plan.
The states are Kastina, Ebonyi, Jigawa,
Kano, Enugu, Plateau, Ondo, Kaduna, Ogun and
Abia.
In a letter to the House, which was read at
plenary by Speaker Yakubu Dogara, the acting president urged the
legislature to separate the states projects from the items listed in borrowing
plan, so as to give them accelerated consideration.
“You may wish to know that the request for the separation of
the state’s projects from the list became imperative in view of the state
current economic realities in the country and the pressing needs of these
states to provide infrastructural and social amenities for their citizens.
“The total loans for the states being presented for special
consideration and approval is US$ 1,492,400,000.00 as listed in paragraph in 1
above.”
A breakdown of the loan request indicates that Kaduna and
Ogun are seeking $350 million each from the World Bank.
While Ebonyi and Abia are seeking $70 million $100 million
respectively from the Africa Development Bank (AfDB).
Also, Katsina is seeking $110 million, Jigawa, $32.4
million, Ebonyi, $80 million, and Kano, $200 million, all from the Islamic
By Ndubuisi Orji
