Earlyface

President Muhammadu Buhari today, August 4, sought the approval of $75
million credit facilities from the world bank for Edo state.
The letter read: “I am writing to seek the consideration from the National Assembly
of the Republic of Nigeria, an approval for the request from Edo state government to
obtain a $75m credit facility from the World Bank.
“You may wish to know that the World Bank had approved a development policy
program for the total sum of 225million dollars to Edo state government 2012 to be
implemented in three tranches of 75millon per annum.
“The first tranch was approved by the national assembly in the 2012/2014 federal
government external ruling borrowing plan. The DPO has since been successful
implemented by the state in 2014. Following this success, the bank’s board of
executive directors approved the second tranch.
“On April 29 2015, the DPO too was captured in the federal government external
borrowing plan of 2014/2017 which is pending with the national assembly.
“It is for the above reason that i seek your favour to facilitate the consideration and
approval of the development policy operation 2 loan of 75 million to enable the state
to consolidate on the gains of the first tranch of the operation DPO 1.
“Your excellency, its instructive to mention that Edo state has informed me that the
key programme objectives of the DPO are already beginning to show in terms of
increased influence of private investment to the state.
“In closed private sector employment opportunities and increased internally generated
revenues, an accelerated approval of this request will help to sustain this gains.
“I look forward distinguished senate president to the usual kind expeditions
consideration of the above request by the senate.
“This letter supersedes HCF/3143/t/137 of 28 July 2015. Please accept as usual
your assurances of my highest regards.”
The letter was read on the floor of the upper chamber by the Senate president,
Bukola Saraki, after which the Senate moved to a closed door session to
deliberate on the appointment of the service chiefs recently appointed by
President Buhari.