The Senate has approved promissory notes and bond issuance of N10.069 billion to Kogi state as refund for projects executed on behalf of the Federal Government.
The approval which came barely three days to the State’s Governorship was criticised by opposition lawmakers who asked that the approval be delayed till after the election. They were, however, out-voted by senator in the majority.
Chairman of the committee, Clifford Ordia who presented the report, asked the Senate to approve the amount requested having met with the permanent secretaries of the Ministries of Finance and Works and Housing.
During the debate, Senate Minority Leader, Enyinnaya Abaribe, kicked against the recommendation to approve the refund.
The approval was a sequel to the adoption of the report of the Senate Committee on Local and Foreign Debts which considered the promissory note programme and a bond issuance to settle inherited local debts and contractual obligations on the refund to state governments for projects executed on behalf of the federal government.
President Muhammadu Buhari had on October 15 asked the Senate to approve the issuance of N10.069 billion promissory note to Kogi State government for projects done on behalf of the Federal Government.