President Muhammadu Buhari has requested for the approval of the National Assembly for the issuance of Promissory Notes worth N148 billion as reimbursement to five states for the execution of federal roads within their respective jurisdictions.
President Buhari had in a letter dated 13th August 2020 addressed to the Speaker of the House of Representatives, Hon. Femi Gbajabiamila solicited for expeditious consideration of the request.
According to the breakdown of the N148,141,969,161.24 as stipulated in the letter, showed that the sums of N36.405 billion are for Bayelsa state; N18.395 billion is for Cross River state; N7.822 billion is for Ondo state; N4.568 billion is for Osun state while N78.953 billion is for Rivers state, respectively.
President Buhari assured that the Minister of Finance, Budget and National Planning shall provide any information that may be required by the National Assembly in its consideration of the request.
“The House of Representatives may wish to be informed that the Federal Executive Council (FEC) at its meeting of June 3rd, 2020 approved the reimbursement of N148,141,969,161.24 through the issuance of Promissory Notes to the Bayelsa, Cross River, Ondo, Osun and Rivers State Governments for federal road projects executed by the States. The extract from the conclusion of the meeting referenced EC 11(2020) 4 is attached as Appendix 1.
The approval by FEC was subsequent to the recommendation of an inter-ministerial committee which reviewed the requests of reimbursement made by the state governments for the projects.
“The Committee reviewed the documents submitted and carried out physical inspection and verification of the projects in the respective states before making its recommendation to the FEC,” the letter read in part.
In line with extant legislative rules, the letter was referred to relevant committees of the House for further legislative action.
Nigerian Tribune