Jul 27, 2017

Why Federal Govt needs a loan Finance for Railway/ Senator Ashafa

The Senator representing Lagos East Senatorial District in the National Assembly, Senator Gbenga Ashafa on Thursday 27th of July, 2017 once again defended the Federal Government’s loan request from China Exim Bank during the consideration of the report from the Senate Committee on Local  and Foreign Debts.

The Senator who is also the Chairman, Senate Committee on Land Transport in his contribution to the report of the Senate Committee on Local and Foreign debt concerning the loan request today,  urged his colleagues to approve the loan request as doing same would be supporting the legislative agenda of the 8th Senate.

He reminded his colleagues that “there is a time frame attached to the loan and that if the loan is not approved by the Senate, the country stands the risk of forfeiting the loan, which would help a great deal in actualizing developmental projects across every  part of the country.”

Ashafa stated further “the legislative agenda of this 8th Senate ably led by the President of the Senate, Distinguished Senator Bukola Saraki involves charting a new course for national economy by opening up the economy for greater investment and ease of doing business.”

“Hence the creation of the National Assembly Business Environment Round Table (NASSBER) to identity priority bills that will aid in investment in the economy. The consequence of this is passing of several economic bills into law including the Nigeria Railway  bill 2017.”

"My distinguished colleagues, approving this loan request is therefore also supporting the cause, which the 8th Senate stands for. “

The Federal Government laid before the National Assembly on the 26thof April, 2017 a request seeking an approval for a loan in the sum of $6.4 Billion from China Exim Bank. The sum of $5,851 Billion of the total is being sought to execute the Modernisation of Lagos to Kano, Kano to Kaduna, Lagos to Ibadan and Lagos to Calabar rail segment.

You will recall that Senator Gbenga Ashafa earlier in May, 2017 defended the loan request and vehemently urged his colleagues to ensure that the National Assembly passes the loan request in order to fund the Lagos to Kano and Calabar to Lagos Rail projects, while contributing to a motion sponsored by Senator Eyinnaya Abaribe (Abia South) on the “Outright Omission of the Eastern Corridor Rail line in the request for approval of Federal Government 2016 to 2018 External Borrowing Plan.

After the consideration of the report and contributions on the floor of the Senate today, the Loan request was approved for the Lagos to Kano, and Lagos to Calabar railway modernization projects.

Photo Credit - Google 


Post a Comment


LCA_YAN Moot Competition


The Nigerian blawg

Disclaimer:- Posts and comments by the publishers of this blog do not constitute legal advice or create an attorney-client relationship.

Follow by Email

Advertise your property

Property Listings

  • SALE-4bedroom duplex With 3 living rooms. Located at Opic Harmony Estate. Asking 80m Title Global C of O/ consent in progress. 08055424566
  • FOR SALE 8bedroom duplex 2 living rooms With 2 rooms BQ N150m Located off CMD Road Magodo Registered Title Contact 08055424566
  • Property for Rent – New Building, 4 unit luxury 2 bedroom flat available at Rafiu Ipaye Street, Ijesha, Surulere. Ground floor back flat- 700k per anum, First floor back flat – 750k per anum, 2nd floor back flat – 750k, 2nd floor front flat – 800k. Service charge - 75k per anum. Refundable caution – 70k. Call 08055424566 for details.
  • Property For Sale!!! A fenced and gated uncompleted 3 bedroom site on a full plot of land is available for sale at Igbetu via Awoyaya, behind Mayfair Gardepn Estate, Ibeju-Lekki, Lagos for sale. Price is N20million and Title Documents include, Family Receipt,  Deed of Assignment and Global C of O. Contact 08055424566 for more information
  • PROPERTY FOR SALE!!!!!!!!  A 5 Bedroom Duplex with 2 room BQ formerly used for a Nursery & Primary school is available for sale in Iyana Ipaja, Lagos  Building contains 9 CLASSROOMS, 2 OFFICE SPACES, 1 LARGE RECEPTION, 8 TOILETS, 5 BATHROOMS, KITCHEN,PLAY AREA. The seller's title is a certificate of Occupancy and the asking price is 35 million Naira.  Contact 08055424566 for more details 
  • List your property for rent or sale here



Email *

Message *

Powered by Blogger.