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Reps Suspend Buhari’s $22.79bn Loan Consideration Indefinitely

Published

6 years ago

March 12, 2020

Eric

The House of Representatives has indefinitely suspended the consideration of the $22.79bn external loan request by the President, Major General Muhammadu Buhari (retd.).

The House had listed the report by its Committee on Aids, Loans and Debt Management on the 2016–2018 Federal Government External Borrowing (Rolling) Plan as the last item for consideration on the order paper for Wednesday’s proceeding.

The Speaker, Femi Gbajabiamila, however, asked that the consideration be stood down without giving a new date.

“We will step that down for today,” Gbajabiamila said, asking the Chairman, Rules and Business, Abubakar Fulata, to move for the standing down.

When asked to respond to the indefinite suspension of the loan request by the House, the Media Adviser to the Finance Minister, Mr Yunusa Abdullahi, said, “No comments please.”

The Speaker on Tuesday had announced that the loan would be considered on Wednesday.

He had made this known in reaction to a member of the House, Mr Henry Nwawuba, who presented a petition by a group of South-East elite, against the consideration and approval of the external loan.

The Senate last week approved the loan but not without protests from the opposition senators led by the Minority Leader, Enyinnaya Abaribe.

The funding agencies for the loan, according to the Senate panel, are the World Bank ($2,854,000,000), African Development Bank ($1,888,950,000), Islamic Development Bank ($110,000,000), Japan International Cooperation Agency ($200,000,000 ), German Development Bank ($200,000,000), China-Exim Bank ( $17,065,496,773), and the French Development Agency ($480,000,000).

Some of the projects to be funded with the loans are the Nigeria Electricity Transmission and Access Project ($364,000,000); Social Inclusion and Welfare Advancement project, renamed National Social Safety Net Project, ($500,000) and the Economic Reforms and Governance Project, renamed Fiscal Governance Project ($200,000,000).

Meanwhile, the Speaker on Wednesday named the committees that would interface with the Federal Government and other stakeholders on the falling prices of crude oil globally.

The House on Tuesday had raised the alarm over the sharp fall in the global oil prices, noting the adverse effect it would have on Nigeria’s economy especially the implementation of the 2020 Appropriation Act.

The House had mandated its committees on finance, petroleum, and budget and national planning to interface with the executive and report back within two weeks.

On Wednesday, Gbajabiamila said the House Committee on Appropriations chaired by Mr Aliyu Betara, should also be part of the interaction since the crude price would affect the national budget and the oil benchmark.

At the Tuesday plenary, Chairman of the House Committee on Finance, Mr James Faleke, moved a motion of urgent public importance, warning the coronavirus outbreak, causing oil prices to fall, would frustrate the 2020 budget.

Amid tumbling prices of crude oil, the Federal Government had announced plans to cut the country’s 2020 budget.

Buhari was billed to get a report on Tuesday on what his regime could do to salvage the N10.59tn budget.

The budget review committee has a primary duty to reassess the $57 oil benchmark for the budget and ultimately recommend an appropriate size.

In another development, the Speaker has set up a panel headed by Mr Abdulraheem Olawuyi to ensure proper implementation of the 2018 Appropriation Act concerning the National Assembly’s budget.

The House had on February 20 said the Federal Government owed the National Assembly and the judiciary over N22.5bn from the previous national budgets.

According to the House, the legislature and the judiciary were underpaid to the tune of N1.2bn and N833m, respectively, between January and November 2018.

The Punch

Featured

Supreme Court Verdict: ADC Chieftain Advises Tinubu to Kiss Aso Rock Goodbye

Published

16 hours ago

May 2, 2026

Eric

A chieftain of the African Democratic Congress (ADC), Eze Chukwuemeka Eze, has declared that it is over for the President Bola Tinubu administration following the Supreme Court ruling that restored the David Mark-led National Working Committee (NWC) of the opposition party.

Eze, in a statement on Friday, criticized the Attorney General of the Federation, Lateef Fagbemi (SAN) and the INEC chairman, Prof Joash Amupitan, asserting that they should be ashamed for acting as obstacles to the survival of democracy in Nigeria.

He said: “The government led by President Bola Tinubu has tarnished the judiciary. Certain judges and courts are reportedly being systematically employed to undermine the leadership of political parties in anticipation of the 2027 general elections.

“Even when all seemed lost, given the recent court rulings in political cases, particularly those involving opposition parties, Thursday’s Supreme Court judgment was a divine intervention.

“We express our gratitude to God Almighty for prompting the Supreme Court to overturn that disgraceful, distorted, and anti-democratic ruling issued by the Federal High Court, the Court of Appeal, and the misguided interpretation and decision of INEC regarding our party, the ADC.”

He stressed that the time has come for Tinubu and his alleged undemocratic associates in Aso Rock to return to Lagos.

“With Thursday’s ruling saving the ADC from destruction, it is time for Tinubu to begin drafting his handover notes and prepare for his return to Lagos State,” Eze stated.

Eze advised the ADC to concentrate on its primary function as a prominent opposition party in the upcoming 2027 general elections, as that the leadership dispute has been resolved.

He emphasized that stability at the upper levels of the party will result in improved organization, clearer communication, and enhanced participation in Nigeria’s political arena.

Notably, he asserted that the ruling will add to Nigeria’s expanding collection of case laws regarding political party governance, and urged the ADC to stay focused on its objective of reclaiming power from the APC due to poor governance.

“It highlights the judiciary’s role in interpreting party constitutions and ensuring adherence, which may affect how future conflicts are resolved,” Eze stated.

He praised the panel for upholding justice, remarking that any opposing decision regarding the ADC’s alleged leadership issue would have further entangled the Judiciary in the murky waters of arbitral corruption.

“Clearly, this ruling has set the stage for cohesion, unity, stability, and effective leadership within the ADC.

“With this issue now definitively settled, even though it should not have been justiciable ab initio, as it pertains to an internal matter of a political party, we urge all our members, stakeholders, and supporters to unite behind the David Mark-led leadership of the ADC to collectively reposition the party for greater national significance, viability, and visibility,” Eze said.

Featured

2027: We’re on Track, ADC Hails S’Court Ruling

Published

2 days ago

May 1, 2026

Eric

The African Democratic Congress (ADC) has declared that it would never be intimidated, distracted, or silenced in its push to realize a better Nigeria.

Spokesman of the ADC, Bolaji Abdullahi, said this in reaction to the Supreme Court ruling, which affirmed David Mark’s leadership of the party.

Abdullahi said the judgment has affirmed that the Mark and Rauf Aregbesola leadership of the party is legitimate.

Abdullahi said: “The African Democratic Congress (ADC) congratulates all our members and leaders across the country on today’s Supreme Court ruling which affirmed the leadership of our party under Senator David Mark as National Chairman, and Ogbeni Rauf Aregbesola as National Secretary.

“Today’s decision is a clear affirmation that our party, its structures, and its leadership under our National Chairman, Senator Mark, and our National Secretary, Ogbeni Aregbesola, are legitimate.

“We commend the five-man panel of the Supreme Court, whose unanimous judgment has today done great credit to the judiciary in our country and our political system.

“However, while we welcome this judgment, we do not mistake it for the end of the struggle. The events leading up to this moment have exposed a troubling pattern of interference, bad faith, and attempts to weaken opposition voices in Nigeria.

“Let it be clearly stated: the ADC will not be intimidated, distracted, or silenced. We remain resolute in our mission to provide Nigerians with a credible alternative.

“We therefore urge all our members, supporters, and democratic stakeholders across the country to remain vigilant.”

Featured

Tinubu Appoints Bianca Ojukwu As Foreign Affairs Minister

Published

3 days ago

April 29, 2026

Eric

President Bola Ahmed Tinubu has appointed Ambassador Bianca Odumegwu-Ojukwu as Nigeria’s new Minister of Foreign Affairs.

The announcement was contained in a statement released on Wednesday by Bayo Onanuga, Special Adviser to the President (Information & Strategy).

The appointment followed the resignation of the former Minister of Foreign Affairs, Ambassador Yusuf Tuggar, who stepped down to participate in preparations for the 2027 elections.

According to the statement, Bianca Odumegwu-Ojukwu’s elevation marks a return to a more senior role within Nigeria’s foreign service architecture, having previously served as Minister of State in the Ministry of Foreign Affairs.

Her new appointment places her at the helm of Nigeria’s diplomatic engagements, where she is expected to oversee the country’s foreign policy direction, strengthen international partnerships, and advance economic diplomacy objectives.

“President Bola Ahmed Tinubu has appointed Ambassador Bianca Odumegwu-Ojukwu as Nigeria’s Minister of Foreign Affairs, following the resignation of Ambassador Yusuf Tuggar, who stepped down to participate in the 2027 elections.

“Ambassador Odumegwu-Ojukwu previously served as Minister of State in the Ministry of Foreign Affairs.”

The Presidency noted that the decision forms part of ongoing efforts to reposition Nigeria’s foreign policy framework for greater efficiency and stronger global engagement. It added that the new minister is expected to deepen diplomatic relations, promote Nigeria’s national interest, and ensure the welfare of Nigerians abroad remains a priority.

In the same announcement, President Tinubu also nominated Ambassador Sola Enikanolaiye as Minister of State for Foreign Affairs, subject to Senate confirmation.

Enikanolaiye, from Kogi State, previously served as Senior Special Assistant to the President on Foreign Affairs and International Relations. He is a seasoned diplomat with over three decades of service in Nigeria’s foreign affairs system and has held key postings in Addis Ababa, Belgrade, Ottawa, London, and New Delhi.

The Presidency said the appointments are part of broader efforts to strengthen Nigeria’s foreign policy architecture and improve the country’s global diplomatic engagement.

Bianca Odumegwu-Ojukwu is a lawyer, diplomat, and former beauty queen who has had a long career in public service and international diplomacy.

She was born on 5 August 1967 in Anambra State and studied law at the University of Nigeria, Nsukka. She was called to the Nigerian Bar in 1992 after attending the Nigerian Law School in Lagos.

Her academic background includes a Master’s degree in International Relations and Diplomacy from Universidad Alfonso X El Sabio in Spain, as well as postgraduate diplomas in Human Rights and International Relations from the Berg Institute, Madrid, and in Dynamics of Conflict and Cooperation from the University for Peace in Costa Rica.

Odumegwu-Ojukwu previously served as Senior Special Assistant to President Goodluck Jonathan on Diaspora Matters and later became Nigeria’s Ambassador to Spain from 2012 to 2015, where she also represented the country at the UN World Tourism Organization. She earlier served as Ambassador to Ghana.

She was appointed Minister of State for Foreign Affairs in October 2024 by President Bola Tinubu, where she supported Nigeria’s external affairs portfolio, including diplomacy, consular engagement, and international relations strategy. She has now been appointed Minister for Foreign Affairs.

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