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Senate okays $800 million loan request for Tinubu

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***passes N819,500 billion 2022 supplementary budget

The Senate on Thursday approved President Bola Ahmed Tinubu’s request to borrow the sum of $800 million from the World Bank
President of the Senate, Godswill Akpabio in a remark shortly after the approval was granted said,

“The approval of the request has been granted by the Senate. Let me thank colleagues for today’s deliberation. I must thank all of you for your show of patriotism despite the hiccups. That’s the Senate for you; very matured. Your attitude today has shown your commitment and determination to ensure that the present administration succeeds”

In the letter he wrote to seek the approval, Tinubu had said that the loan is for additional financing of the national social safety net programme set up by the National Assembly”.

He drew attention to the fact that “the Federal Executive Council led by President Muhammadu Buhari GCFR had approved an additional loan facility to the tune of USD800 million to be secured from the world bank to finance the social safety net programme”

He explained that “under the conditional cash transfer window of the programme, the federal government of Nigeria will transfer the sum of 8000 a month to 12 million poor and low income households for a period of six months with a multiply effect on about 60 million individuals “

The World Bank facility, government had said, would be utilised to scale up the National Social Safety Net Programme.

President Tinubu further explained that “In order to guarantee the credibility of the process , digital transfers will be made directly to beneficiaries accounts and mobile wallets”

He said ” it is expected that the programme will stimulate economic activities in the informal sector and improve nutrition, health and education outcomes for beneficial households.

Giving the above, I wish to invite the senate to kindly grant approvals for additional loan facilities USD800milliom to be secured from world bank for the national social safety net programme.”

In another development, the senate passed the ammendments to the N819,500 billion 2022 supplementary budget.

In passing that amended supplementary budget, the senate approved N500 billion for palliatives and other capital expenditure to cushion the effect of the recent subsidy removal policy.

N185,236,937,815 was approved for Ministry of Works and Housing to alleviate the impact of the severe flooding experienced in the country in 2022 on road infrastructure across the 6 geopolitical zones.

The sum of N19,200,000,000 was approved for Federal Ministry of Agriculture to ameliorate the massive destruction to farmlands across the country during the severe flooding experienced last year.

Also, the sum of N35 billion was approved for the National Judicial Council; N10 billion to Federal Capital Territory Administration for critical projects.

The National got N70 billion to to support the working conditions of new members.

Responding to questions at a press briefing, chairman of the Senate’s Committee on Media and Public Affairs, Temi Adaramodu, said the Senate had no reason to doubt the veracity of the data and explanations given by the presidency regarding how the fund for the palliatives will be spent.

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Legislature

NASS modifies NDLEA Act, Prescribes Life Imprisonment for Drug Traffickers

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The National Assembly has modified the National Drug Law Enforcement Agency (NDLEA) Act to prescribe life imprisonment for individuals found guilty of storing, transporting, or concealing illicit drugs and substances. 

The amendment was adopted on Thursday during plenary, presided over by Deputy Senate President Barau Jibrin, following broad support from the senators.

The amendment reflects a harmonised position of the Senate and the House of Representatives on Section 11 of the NDLEA Act. 

The House had earlier passed an amendment prescribing life imprisonment for drug traffickers, while the Senate had proposed the death penalty.

To reconcile the differences, a conference committee of both chambers was convened. Senator Tahir Monguno, Chairman of the Senate Committee on Judiciary, Human Rights, and Legal Matters, presented the harmonised version to the Senate. 

He urged lawmakers to adopt the House’s position of life imprisonment, arguing that enforcing the death penalty could lead to the execution of over 900 accused persons currently awaiting trial for drug-related offenses.

The Deputy Senate President who presided over the plenary had put the resolution to a voice vote, and the majority of senators supported the amendment. 

The approved version stipulates life imprisonment for offenders.
The amended section now reads:
“Anybody who is unlawfully involved in the storage, custody, movement, carriage, or concealment of dangerous drugs or controlled substances and who, while so involved, is armed with any offensive weapon or is disguised in any way, shall be guilty of an offence under this Act and liable on conviction to be sentenced to life imprisonment.”
This amendment aims to strengthen the fight against drug trafficking while addressing concerns over human rights and the judicial implications of the death penalty.
The move is part of efforts to curb the growing menace of drug trafficking and its adverse effects on Nigerian society. According to Senator Monguno, the life imprisonment penalty strikes a balance between deterrence and humane judicial practice.
With the amendment, the NDLEA now has a robust legal framework to prosecute offenders and combat drug-related crimes effectively.

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Legislature

President Tinubu urges Senate to approve ₦1.767trn External Loan

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Bola Ahmed Tinubu

President Bola Ahmed Tinubu has formally requested the National Assembly’s approval for a $2.209 billion (₦1.767 trillion) external borrowing plan to finance part of the ₦9.17 trillion fiscal deficit in the 2024 budget. The loan, included in the 2024 Appropriation Act, is critical to the government’s broader strategy for economic recovery and growth.
In a letter to Senate President Godswill Akpabio, President Tinubu noted that the borrowing aligns with the provisions of Sections 21(1) and 27(1) of the Debt Management Office (DMO) Establishment Act, 2003. He also indicated that the Federal Executive Council (FEC) had approved the plan.
The President explained that the funds would be sourced through Eurobonds or similar external financial instruments. A detailed summary of the loan’s terms and conditions accompanied the letter to guide legislative scrutiny.
“This borrowing is necessary to address the budget deficit and fulfill our fiscal strategy for 2024. Swift approval will enable us to move forward with mobilizing these funds,” the President stated, emphasizing the urgency of the request.
Senate President Akpabio referred the matter to the Committee on Local and Foreign Deb

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Legislature

Senator Natasha Transforms Kogi Central Schools with 5,000 Digital Learning Devices

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By Isah Bala

Access to quality education is a cornerstone of societal progress, and Senator Natasha Akpoti-Uduaghan is embodying this vision by bringing transformative educational tools to Kogi Central. In a groundbreaking initiative, the senator recently provided 5,000 digital learning devices to public primary and secondary schools in her district, aiming to bridge the digital divide and set a new educational standard.

The devices, unveiled at Abdul Aziz Attah Memorial College (AAAMCO), are preloaded with the Nigerian curriculum from UBEC and internationally acclaimed educational resources, including Khan Academy and Discovery Kids. Through this initiative, students will experience interactive learning, enabling them to explore subjects in depth, enhance digital literacy, and engage with complex topics in a hands-on way.

This project is just the beginning of Senator Natasha’s ambitious plan to make “smart schools” the norm in Kogi Central. She envisions a future where every child in her district has equal access to digital learning, stating, “My dream is to equip all public primary and secondary schools in Kogi Central with digital learning devices before the end of my tenure in 2027.”

Beyond device distribution, the senator’s initiative includes UBEC-led teacher training to ensure educators are equipped to integrate these tools into their classrooms effectively.
With this dual approach of student and teacher empowerment, Senator Natasha is laying a foundation that will support digital literacy and skill development for years to come.

Senator Natasha’s commitment to educational advancement represents a significant step forward for Kogi Central, ensuring that young students have access to the tools they need to succeed in an increasingly digital world. This initiative marks her dedication to the constituency that entrusted her with this mandate.

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