•President asks Assembly to okay $200m World Bank loan for Lagos
The Senate yesterday received communications from President Muhammadu Buhari requesting confirmation of the appointments of Mr. Babatunde Fowler as Executive Chairman of the Federal Inland Revenue Service (FIRS).
Also, the President sent a request for approval of Alhaji Umaru Danbata as the Executive Vice Chairman of the Nigerian Communications Commission (NCC).
Similarly, the name of Alhaji Ahmed Kuru was sent to the upper legislative body for confirmation as the Managing Director of Assets Management Corporation of Nigeria (AMCON).
The names of Kola Ayeye, Eberechukwu Uneze and Aminu Ismail were also forwarded for approval as Executive Directors.
Also yesterday, the President asked the Senate to approve a Development Policy Operation (DPO) loan (budget support) of $200 million to Lagos State from the World Bank.
Buhari, in a letter entitled: “Request for special approval of Lagos State DPO 11 under the Federal Government external borrowing rolling plan 2015 to 2017,” the President requested the Senate to endorse the loan expeditiously.
The letter reads in part: “I refer to the above subject and request approval for Development Policy Operation (DPO) loan (Budget Support) of US$200 million to Lagos State from the World Bank.
“You may wish to know that the World Bank approved a DPO loan for a total sum of US$600 million to Lagos State Government in 2010 to be implemented in three tranches of US$200 million per annum.
“The first tranche was approved by the National Assembly in the 2010-2012 Federal Government External (Rolling) Borrowing Plan and the second tranche was in the 2012-2014 plan.
“The DPO 1has been successfully implemented as adjudged by the World Bank, the Bank’s Board of Executive Directors approved the second tranche of the DPO on April 29, 2015.
“The DPO 111 was captured in the Federal Government External (Rolling) Borrowing Plan of 2014-2016 which was discussed with the National Assembly, but was not concluded.
“Pursuant to the above, therefore I seek for your support to facilitate the consideration and approval of the DPO 111 loan of US$200million to enable the state to consolidate on the gains of the second tranche of the DPO 11.
‘It is instructive to note that key programme objectives of the DPO are already beginning to show in terms of increased inflow of private investment to the state, increased private sector employment opportunities and increased internally generated revenues.
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