29th September, 2015
President Muhammadu Buhari on Tuesday wrote the two chambers of the Nigeria National Assembly asking for the approval of 200 million dollars from World Bank loan to Lagos State. The request was contained letters read separately by the Senate President Bukola Saraki and Speaker Yakubu Dogara on resumption of plenary at both chambers of the National Assembly on Tuesday.
The 200 million dollars is the third tranche of $600m Development Police Operation in three tranches of $200m per annum extended to Lagos State by World Bank in 2010.
The President said in the letter that early approval of the loan will enable the state consolidate on the gains of the second tranche consolidate on the gains of the second tranche of Development Police Operation, DPO II.
In another letter, the President also asked the House of Representatives to give approval raise the proposed Diaspora Bond to $300m.
The President said that the raise was needed to accommodate the “huge amount of capital” required to bridge the infrastructure gap in the country while Nigerians in the Diaspora had shown interest in the bond.
“The purpose of this letter, therefore, is to request approval of the House of Representatives to increase the amount proposed to be raised through the Diaspora Bond from US$100m to a maximum of US$300m,” the President said in the letter.
The President also wrote the Senate President asking for the senate confirmation of Babatunde Fowler as the Federal Inland Revenue Services (FIRS) boss, Ahmed Lawan Kuru for Asset Management Corporation of Nigeria and Garba Danbatta as the Vice Chairman of Nigeria Communications Commission.