OrderPaperToday – President Muhammadu Buhari has asked the senate to approve the issuance of N10.069 billion promissory note to Kogi state government for projects done on behalf of the Federal Government.
The request is premised under the promissory note programme and bond issuance to certain inherited local debts and contractual obligations of the Federal Government.
Reading the Letter on Tuesday, the Senate President, Ahmad Lawan, said the 8th National Assembly passed the resolutions approving the issuance of promissory note to 24 out of the 25 state governments.
Buhari noted that the claims of all the 25 state governments for projects executed on behalf of the Federal Government were verified by the Federal Ministry of Works and Housing and the Bureau of Public Procurement (BPP) on which basis the Federal Executive Council approved the claims and subsequently forwarded them for the approval of the National Assembly.
Based on the aforementioned, the Nigerian President said: “Accordingly, the senate is hereby requested to kindly approve the issuance of promissory note to the sum of N10,069,692,410.15 as refund to Kogi state government as payments for projects executed on behalf of the federal government.”
Lawan mandated the Senate committee on local and foreign debts to work on the report and to the chamber in two weeks.