Politics Nigerian Senate Directs Amaechi To Withdraw Statement Over $29.96bn Loan

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Nigerian Senate on Wednesday directed Minister of Transportation, Rotimi Amaechi to withdraw the statement which he claimed that the refusal of the National Assembly to approve the request of the government for foreign loan that will be used for counterpart funding was frustrating the construction of the Lagos-Ibadan and Ibadan-Ilorin-Minna -Kano rail lines.

Amaechi made the statement during the North Central Town Hall meeting in Ilorin on Monday.

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The Senate in a statement by its spokesman, Senator Aliyu Sabi Abdullahi, said the statement was not only false, misrepresenting and contradictory to available facts but that it also portrayed the Minister as not in tune with the position of the government in which he is serving.

Abdullahi said the only request for approval from the Executive for loan was the one dated January 27, 2017 and signed by Acting President, Professor Yemi Osinbajo seeking a “resolution of the National Assembly For the Issuance of USD 1 Billion EuroBond In the International Capital Market For The Funding of the 2016 Budget Deficit” and was immediately granted the approval.

"The Minister should therefore withdraw that statement".
 
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