Reps. to examine Edo State’s $75m credit request from World Bank

The Speaker of the House of Representatives, Yakubu Dogara, on Wednesday, raised a seven-man ad hoc committee to examine the request made by President Muhammadu Buhari for the approval of 75 million dollars credit facility for Edo.

The credit facility request from World Bank for Edo was a follow-up to the letter from the President, which was read on the floor of the house on Tuesday, August 4, 2015.

In the letter, the President informed the house of the World Bank approved Development Policy Programme (DPP) of a total sum of 225 million dollars for Edo in 2012.

Constituting the ad hoc committee, Dogara urged members, headed by Rep. Babagada Ibrahim (Kano-APC) to examine the request made by the President and also make recommendations to the House within seven days.

Other members of the ad hoc committee are Rep. Chidi Okafor, Rep. Boma Goodluck, Rep. Shehu Garba and Rep. Tope Olarinoye among others.

It would be recalled that President Buhari had on August 4, sent a letter to the House of Representatives, requesting for the approval of the National Assembly to enable the Federal Government to provide guarantee “to enable Edo State to obtain a 75-million-dollar credit facility from World Bank.”

In the letter, President Buhari ‎explained that the DPP was to be implemented in three tranches.

The letter stated that the first tranche was approved by the National Assembly in the 2012-2014 Federal Government external borrowing plan.