The Senate on Wednesday granted President Muhammadu Buhari’s request to reimburse the executive arm for N22.7 trillion in expenses that were incurred without the National Assembly’s initial consent.
The Federal Government borrowed the N22.7 trillion from the Central Bank of Nigeria (CBN) via “ways and means advances”.
Some senators from the Peoples Democratic Party (PDP) objected when President Buhari asked the Senate to approve the amount in December 2022.
Before granting his request, the opposition lawmakers insisted that documentation of the expenditures of the funds be given.
Following the uproar the request caused in the senate, Senate President Ahmad Lawan appointed the Senate Leader, Ibrahim Gobir, to chair an ad hoc committee and liaise with relevant Ministries, Departments, and Agencies (MDAs) on the spending.
However, after the Senate Leader, Ibrahim Gobir, gave a report of the committee to the lawmakers at Wednesday’s session, the Red Chamber ultimately agreed to the request during plenary.
According to Gobir, the Ministry of Foreign Affairs (ECOWAS national unit), Nigeria Bulk Electricity Trading, Azura Power West Africa, Niger Delta Power Holding Company, and Accugas Limited are some of the beneficiaries of the funds.
Ada Peter
