According to Abubakar Yunusa Ahmad, a member of the House of Representatives Committee on Loans, Aids, and Debt Management, the federal lawmakers have approved the $800 million loan request made by President Muhammadu Buhari.
Ahmad clarified that the present administration will not use the loan.
He said the next administration would decide how to use the money most effectively.
“We advised them: ‘First, leave this thing to the incoming government,” Ahmad said during an appearance on Channels Television’s Sunrise Daily on Friday.
President Buhari Seeks Senate Approval For $800 Million Loan
He added, “But since the loan has been granted, we can collect. If we cannot use it, maybe when the incoming government comes, they may have a different approach to issues.”
In a previous letter to the Senate, President Buhari requested clearance for a $800 million loan from the World Bank.
The goal of the loan is to assist 10 million households or 50 million underprivileged Nigerians as a part of efforts to lessen the effects of subsidy elimination.
Ahmad speaking on the loan being used by the present Ministers hinted at a potential overhaul of the cabinet with the incoming administration. “It was on social media that probably they intended not to use any of Buhari’s ministers because they have already taken them to have underperformed,” he said.
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“We have granted that loan, it is approved, so we want Nigerians to take it but it is not going to be utilised by this outgoing government. Now, if the incoming government comes, we will see also their own template,” he concluded.
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