President Muhammadu Buhari has sought the National Assembly’s approval of the reimbursement of N148.14 billion through the issuance of promissory notes to five state governments for federal road projects they already executed.
The request by the President was contained in his letter to the President of the Senate, Ahmad Lawan, and read during plenary after the upper chamber’s resumption from its over two months vacation.
The states are Bayelsa, Cross River, Ondo, Osun and Rivers.
The letter is entitled “Request for Resolution of the National Assembly for Approval of the Reimbursement of N148.14 Billion Through the Issuance of Promissory Notes to Bayelsa, Cross River, Ondo, Osun and Rivers State Governments for Federal Road Projects Executed by the States.”
It read: “The Senate may wish to be informed that the Federal Executive Council at its meeting of June 3, 2020, approved the reimbursement of N148.14 billion through the issuance of promissory notes to Bayelsa, Cross River, Ondo, Osun and Rivers states government for the federal road projects executed by the states.
“The approval by FEC was subsequent to the recommendation by an inter-ministerial committee which reviewed the request for reimbursement made by the state governments for the projects.
“The committee reviewed the documents submitted and carried out fiscal inspection and verification of the projects in the respective states before making its recommendation to FEC.
“The summary of the amount approved for each of the five states is stated in the table below.
“Bayelsa, N38, 404, 564, 783.40; Cross Rivers, N18, 394, 732, 608.85; Ondo, N7, 822, 147, 577.8; Osun, N4, 567, 456, 673.63; Rivers, N78, 953, 67, 518.29.
“In view of the foregoing, I wish to request the Senate to kindly approve through its resolution, the request for the reimbursement of the total sum of N148, 141, 969, 161.24 through the issuance of promissory notes to the five aforementioned state governments for the federal road projects executed on behalf of the Federal Government as detailed in paragraph two above.”
Buhari also transmitted to the upper chamber for consideration and passage, the Petroleum Industry Bill (PIB).
“Dear Distinguished Senate President, transmission of the Petroleum Industry Bill 2020 for consideration and passage into law.
“Pursuant to Section 58 of the Constitution of the Federal Republic of Nigeria 1999 as amended, I formally request the consideration and passage into law by the Senate the Petroleum Industry Bill 2020.
“In particular, the Senate may wish to note that this Bill combines in a single trough, aspects of significant reforms to the laws governing the Nigerian petroleum industry that were previously set out in two distinct draft legislations.
”They are the Petroleum Industry Bill 2020, and the Petroleum Industry Fiscal Bill 2020; while I trust that the Senate, in their usual expeditious manner, favourably consider the passage of this Bill into law.”