House of Representatives, Wednesday gave nod for the issuance of promissory notes worth N148.141 billion to 5 States of the federation as refund for federal road projects executed on behalf of the federal government.
The States included Bayelsa, Cross River, Ondo, Osun and Rivers.
It will be recalled that President Muhammadu Buhari had in a letter dated August 13, 2020, sought the approval of the National Assembly for the refund.
Available records indicated that Bayelsa State will receive N38,404,564,783.40; Cross River, N18,394,732,608.85; Ondo, N7,822, 147,577.08; Osun, N4,567,456 673.63; and Rivers, N78,953,067,518.29.
The approval by the House was sequel to the consideration and adoption of a report by the committee on Aids, Loans and Debt Management.
Chairman of the Committee, Hon. Ahmed Safana Dayyabu while laying the report said, ”That the House do consider the Report of the Committee on Aids, Loans and Debts Management on the Promissory Notes Programme and Bond Issuance as refund to Rivers, Bayelsa, Cross River, Osun and Ondo States Government for projects executed on behalf of the Federal Government and approve the recommendations therein.”
”Approve the Promissory Notes Programme and Bond Issuance to settle outstanding claims and liabilities of five (5) State Governments in the sum of One Hundred and Forty–Eight Billion, One Hundred Forty–One Million, Nine Hundred and Sixty–Nine Thousand, One Hundred and Sixty-One Naira, Twenty–Four Kobo only (N148, 141, 969, 161. 24) based on the claims by each State as follows, Bayelsa State 38, 404, 564, 783. 40, Cross River State 18, 394, 732, 608.85, Ondo State 7, 822, 147, 577. 08
Osun State 4, 567, 456, 673. 63, Rivers State 78, 953, 067, 518, .29.”
Dayyabu said that the report exampled the commitment of the federal government to reimburse states for executing road projects in their territory on behalf of the federal government.
The report was adopted via a motion by the Majority Leader of the House, Hon. Alhassan Ado-Doguwa and seconded by minority leader, Hon. Ndudi Elumelu
Vanguard
