Senate will pass Buhari's $29.96bn loan request- Lawan

President of the Senate, Ahmad Lawan, on Monday, confirmed that the red chamber would approve the $29.96bn loan request of the President, Major General Muhammadu Buhari (retd).

His position has therefore laid to rest, arguments by some Nigerians that the loan request would be rejected just like the 8th Senate did in 2016 when it was first submitted to the red chamber for approval.

Lawan, who addressed a press conference in Abuja, however assured Nigerians that the National Assembly would ensure judicious utilisation of the money.

The Senate President, who was responding to a categorical question on whether the Senate would approve the loan or reject it like what happened three years ago, confirmed in the affirmative.

He said, “The question of whether we will pass (approve) the loan request of the Executive arm of Government, yes, we will pass it. If we don't have money and you have projects to build them, how will you provide infrastructure that you need?

“But one thing is that, we are going to be critical that every cent that is borrowed is tied to a project.

"These are projects that will have spillover effects on the economy and we will undertake our oversight so well to ensure that such funds are properly, prudently, economically and transparently are applied on those projects.”

Explaining why the request was rejected in 2016 by the Senate, Lawan said, “In 2016, the Senate did not pass the loan request of the Executive at that time and the reason was because there were no sufficient details.

“I want to inform this gathering and indeed Nigerians that the letter conveying the loan request of the Executive came with every possible detail and in fact we will ensure that we are getting the right information from the Executive arm of Government. So, the situation is not the same.

“In 2016, there were no submission of details. This time, I think the Executive has learnt its lesson and the letter came with sufficient details.

"Nothing will really militate against the passage (of the bill) but we are going to be critical so that every borrowed (amount) is tied to a project.

"These are projects that will have spill over effects on the economy and we will undertake our oversight to ensure such money is effectively efficiently prudently applied on those projects."

The Senate President, had on October 23, cautioned the Federal Government on the continued reliance on borrowing to fund the infrastructure needs of the country

Instead, he suggested a Public- Private Partnership option, to save the country from heavy indebtedness.

Lawan stated this at the opening session of a two -day Public hearing organised by the National Assembly on the 2020 Federal Budget held at the federal parliament last month.

He had said, "We cannot continue to borrow to build our infrastructure, I belong to that school (of thought) that believes that, where we can have a PPP to build our infrastructure, We should do that.

“I feel that if we can build our road from Abuja to Kaduna or (to) Kano with private fund and they design a way to collect their money, let us do that.

“Other countries have done that and it worked. As long as we are not shortchanged, we have to look at it. If we have to borrow, we should borrow, where there is another opportunity we should explore that."

Speaking on the hate speech bill controversy on Monday, Lawan said the Senate will kill the proposed legislation if the concensus opinion of Nigerians is that the law should not see the light of the day.

He said, "The hate speech bill has a life in the democratic activities of Nigeria. Nigerians from all works of life and persuasions have one thing or the other to say to what democracy is all about.

"The hate speech bill is not going to be passed without the deserving public hearing, so we have the opportunity to go there with our arguments whether we like it or do not want it.

"I want to assure you that the preponderance of opinions of Nigeria will determine the way the hate speech bill and any other bill goes in the Senate and in the national assembly."

Lawan also said that the Senate will start working on the process for the review of the 1999 Constitution immediately the red chamber resume plenary next year.

He said, "From early next year, our committee on the review of the constituction will start his job of ensuring that the process of Constitution amendment start work.

"We have been very busy with the budget and so many other issues that we felt we should you clear this one's and as soon as we come back, the committee on the review of the 1999 Constitution should start this job. We are going to do everything that will make the governance better."

Lawan said that apart from the six bills that had been passed, 185 bills had also gone through first reading in the 9th Senate, while 32 others have passed second reading and are now undergoing necessary further legislative processes at the relevant committees.

He said, "Some of the bills that will be accorded priority when we return from the Christmas and New Year break in January are the Petroleum Industry Bill, Electoral Reforms Amendment Bills and Amendment of the 1999 Constitution.

"The Petroleum Industry Bill was first introduced in the National Assembly in 2007 but is yet to be passed in its entirety.

"The National Assembly will this time around adopt a different approach to make the passage of the PIB a reality.

"We want to see a situation where the Legislature and the Executive work very closely to have a PIB that will attract investment into the oil and gas sector in Nigeria.

"We want to create an investment climate that will be competitive. We know some other countries have this product, therefore, we have to be competitive, we have to create an environment where the businesses make profit."

Lawan added that "as members of the ruling All Progressives Congress, have a commitment to provide support and guidance for the development agenda of our government."

"This commitment we are pursuing through quality legislation and prompt consideration of public petitions and requests from the President for confirmation of appointments into important offices, " he said.