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Presidency seeks National Assembly’s nod on $500m Eurobond

By Adamu Abuh, Terhemba Daka and Segun Olaniyi Abuja   |   23 February 2017   |   4:40 am

National Assembly Complex Abuja.

•Senate warns ministers, MDAs to defend budget or get zero allocation
•Reps move to stop attacks on Nigerians in S’Africa
*Acting president urges closer Nigeria, U.S ties

Acting President Yemi Osinbajo yesterday sought the approval of the National Assembly for the issuance of $500 million Eurobond in the international capital market to fund the 2017 budget.

The Acting President, via a correspondence, read by Speaker Yakubu Dogara at the plenary session of the House of Representatives disclosed that Osinbajo sought the issuance of the Eurobond between February and March 2017, subject to market conditions, in order to meet the approved capital expenditure funding plan as specified in the 2017 budget.

In another development, Osinbajo yesterday said the time has come for Nigeria and the United States to deepen the long-standing relationship between the countries based on mutual trust.

The acting president spoke at the Presidential Villa, Abuja while receiving the Commander of the U.S.-Africa Command, General Thomas D. Waldhauser and the American Ambassador in Nigeria, Stuart Symington.

Symington said he had just concluded a visit to all the geo-political zones of the country and has concluded, “Nigeria is one of the greatest countries in the world with the potential to change the world.

Waldhauser explained that his visit to Nigeria at this time is about developing further “the friendship and trust that we have in common,” while also agreeing with Osinbajo that the brutality shown by the terrorists is “what we have never seen before.”

Meanwhile, Senate President Bukola Saraki yesterday said heads of ministries, departments and agencies of government (MDAs) that fail to defend their budget would be given zero allocation in the 2017 fiscal year.

Saraki urged those concerned to act within the extended period, warning that a few individuals could not delay the appropriation process by refusing to honour the invitations extended to them.

He, however, promised that the 2017 Appropriation Bill would be passed before the second week of March. The House of Representatives yesterday condemned the racist attack on Nigerians living in South Africa.

The House adopted a motion sponsored by Mrs. Rita Orji at a plenary that was presided over by Dogara. It resolved that a delegation be sent to the South African government to warn the people of the consequences of the attacks.




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