President of the Senate, Ahmad Lawan, has assured Nigerians that the National Assembly will take full responsibility for the application of President Muhammadu Buhari’s $22.79 billion loan request to various projects domiciled with Federal Ministries, Departments, and Agencies of government.
Lawan stated this in his remarks after the Senate approved President Buhari’s loan request on Thursday.
The Senate President, while expressing optimism that the loan will turn around the economic fortunes of the nation, said its strict application to relevant projects will be supervised by committees of the National Assembly.
“Let me emphasize here, that we are going to follow very strictly how these funds are applied by the executive arm of government.
“Our Committees must be prepared to ensure that no single dollar or cent is spent on any other thing outside of what has been indicated here.
“We pray that this loan will turn around the economy of Nigeria. It is our belief that this loan will definitely have some positive influence on the Gross Domestic Growth (GDP) of this country, and therefore, we want to assure Nigerians that as a Chamber of the National Assembly, we will be responsible and ensure that no funds approved here are utilized for something else or used in uneconomic or imprudent manner.
“This is our responsibility and we will ensure we do that”, the Senate President assured.