Presidency accepts Senate’s decision on Buhari’s $29.9bn loan request; Ndume explains rationale behind rejection

The Presidency has said it will not dispute the decision of the Senate to reject the request of President Muhammadu Buhari to borrow $29.9 billion.
Senior Special Assistant to President Buhari on National Assembly Matters, Sen. Ita Enang, disclosed this while briefing newsmen in Abuja on Tuesday.
The Senate, on Tuesday, rejected the request of Buhari to borrow $29.9 billion as part of its external borrowing plan for 2016 to 2018.
The leader of the Senate, Ali Ndume told newsmen after plenary that the request was rejected due to the absence of certain documents that should have accompanied the letter.
Sen. Ita Enang, therefore, said that the Presidency would not be disputing with the senate but would rather engage with them on the issue that had been raised.
“We are not disputing with the distinguished Senate.
“There are certain information and details which will enable them to consider in detail, and appropriately the request of Mr President.
“So we are collating that information. The Budget Office of the Federation, the Debt Management Office, the Minister of Budget and National Planning, Minister of Finance and the economic team are collating the information so that it can be submitted to the Senate to enable them take the appropriate decision.
“We would be engaging the Senate. We will not be disputing with them but we will be engaging with them.
“When we present a matter before the legislature it is for them to consider and as they have considered, more information is needed and that information they are entitled to it and we would provide,” he said.
Meanwhile, Senate Leader, Ali Ndume, on Tuesday said senators voted against Buhari’s request for $29.9 billion foreign loan due to technical issues.
Briefing newsmen shortly after plenary, Ndume, who said that he was shocked that the request suffered such setback, expressed optimism the issues would be resolved and the request would be represented.
“The problem came on a technical ground; it is supposed to go to the committee level and the committee is supposed to take a look at it.
“I am going to appeal to my colleagues to take a look at it again and see how we are going to bring it back.
“One of the technical things that were missing is that in the letter, if you read it, says: ‘attached is a draft’ but there was no attachment.
“So, these are some of the lapses that we will look at in bringing it back.
“We were thinking that there were going to be details but there were no details of the borrowing plan.
“I believe that those will be included in the next one,” he said.
The lawmaker said that the red chamber did not have the power to give anticipatory approval of any bill or document that it had not received.
He assured that the senate was poised to do things the right way and would reconsider the request on its merit.
“We are trying to do things the way it should be done this time around, but we cannot throw away the baby with the bath water.
“In the Appropriation Act we approved that the budget will be financed through internal and external borrowing.
“The internal borrowing is going on; we also approved external borrowing, so we will look at these areas that are necessary for the funding of the budget,” he said.
Ndume could not give a specific date or period within which the president was likely to represent the request, but assured that he was going to interface with him.
“I cannot tell you now when it would be represented; I, as a leader, I am in contact with the executive which I try to market in the senate.
“As I told you, I was shocked by the decision; my colleagues surprised me today. I was not expecting that.
“If I had a little inclination that such a thing was going to happen, I would have tried to market the request or at worse, I will not present it.
“Today, the senators had their way and I had my say,” he said.