President Muhammadu Buhari has requested that the Nigerian Senate approve a refund of N16 billion to the Borno State Government through the issuance of promissory notes. The announcement was made on Tuesday, during a plenary session in the Senate by the Senate President, Ahmad Lawan.
Buhari explained that the refund was to pay for the construction of federal roads which were embarked upon by the Borno State Government. According to the letter of request, the sum was approved by the Federal Executive Council (FEC) during its meeting on May 3, 2023.
The President added that the FEC had earlier approved the reimbursement of N3 billion to Borno State in February 2023, and also N6.6 billion for reimbursement to the Plateau State Government. He said his request for the resolution of the National Assembly to issue promissory notes to the two states was already forwarded to the National Assembly.
The FEC’s approval for the reimbursement of the additional sum of N16.77 billion to the Borno State Government was based on an appeal by the state and Buhari’s directive to the Federal Ministry of Works and Housing to ensure that sufficient funds were provided for the completion of the Damboa/Chibok road based on the current cost of completion of the project.
The President has assured the Senate that the Minister of Works and Housing, Babatunde Fashola would provide any information that might be required by the National Assembly for the consideration of this request.
This financial aid to the Borno State Government is expected to boost the state’s economy by providing better road infrastructure that will benefit its citizens and accelerate growth in the region.
It is now left for the Senate to deliberate on the request and decide whether or not to approve the refund.
