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Uproar as Buhari Makes Fresh Request for $29.96bn Loan

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President Muhammadu Buhari on Thursday re-sent the $29.96bn 2016-2018 external borrowing plan to the Senate for its consideration and approval.

Buhari made the request a day after the International Monetary Fund warned Nigeria against rising debts. T he Debt Management Office has said out of Nigeria’s total debt profile of N25.7tn as of June 2019, external borrowing accounts for about 32 per cent while the 68 per cent is domestic.

The President’s financial plan was approved by the Federal Executive Council in August 2016 and sent to the 8th Assembly in September 2016.

The leadership of the federal parliament led by Senator Bukola Saraki and Yakubu Dogara, invariably rejected the request in November 2016.

Buhari had asked the 8th Assembly to approve plans to borrow the amount abroad to fund infrastructure plans from 2016 to 2018.
The President of the Senate, Ahmad Lawan, who read the fresh request sent by Buhari during plenary, did not give details of the executive communication.

In the letter, dated November 26, 2019, Buhari said the 8th National Assembly approved only a part of the External Borrowing request forwarded to it in September 2016.

This, according to him, stalled the Federal Government’s implementation of critical projects spanning across the mining, power, health, agricultural, water and educational sectors.

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Police arrest wanted Abuja kidnapper, Dahiru after Wike’s N20m Bounty

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Operatives of the Federal Capital Territory Police Command have arrested a wanted notorious kidnapper, Saidu Abdulkadir, popularly known as Dahiru Adamu.

This comes barely three days after the FCT Minister, Nyesom Wike placed a N20m bounty on the suspect and one other wanted kidnapper, Abu Ibrahim.

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PHOTOS: FG welcomes Super Eagles with breakfast

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The Super Eagles have arrived in the Federal Capital Territory after their second-place finish at the just concluded African Cup of Nations final.

Players including Alex Iwobi, Ahmed Musa, Victor Osimhen, Ola Aina, Frank Onyeka, Calvin Bassey, Ademola Lookman, Kenneth Omeruo, Joe Aribo and Williams Troost-Ekong were at the welcome breakfast at Transcorp Hilton, Abuja.

Members of the coaching crew are also at the breakfast.

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Hardship: We Plan To Establish A National Commodity Board To Crash Food Prices – VP Shettima

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Vice President, Kashim Shettima, disclosed this on Tuesday during a two-day high-level strategic meeting on climate change, food systems and resource mobilization held at the Banquet Hall of the Presidential Villa, Abuja.

According to Shettima, the board’s mandate includes assessing and regulating food prices, as well as overseeing a strategic food reserve to stabilize prices of critical grains and other essential food items.

“Our solution to the potential food crisis has become immediate, medium, and long-term strategies. The short-term strategy entails revitalizing the food supply through specific interventions like the distribution of fertilizers and grains to farmers and households to counteract the effects of subsidy removal; fostering collaboration between the Ministry of Agriculture and the Ministry of Water Resources for efficient farmland irrigation, ensuring year-round food production, and addressing price volatility by establishing a National Commodity Board.
“This board will continually assess and regulate food prices, maintaining a strategic food reserve for stabilizing prices of crucial grains and other food items,” Shettima said.

On how the government is handling the security challenges that have prevented farmers from working on their farms, he said:

“I wish to assure you that we will engage our security architecture to protect the farms and the farmers so that farmers can return to the farmlands without fear of attacks.
“We won’t only make it safe for farmers to return to their farms, but we will also ensure the activation of land banks. There are currently 500,000 hectares of already mapped land that will be used to increase the availability of arable land for farming, which will immediately impact food output.”

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