Conditions have been outlined by the lower federal chamber under
which President Buhari’s request of N4.89 trillion for the implementation of
projects across the country will be approved by the House of Representative.
This is in line with the House pledge to scrutinise the fresh loan
request.
The
Chairman, House Committee on Media and Public Affairs, Benjamin Kalu, made this assertion
on Thursday during a media briefing after plenary.
He
said, “There is a projected new borrowing of N4.89trn.
“We
are looking at approving it on the condition that there is the provision of the
details of the borrowing plan and where it is going to because it was reflected
in the MTEF.
“Now, when you break down this proposed expenditure for 2022,
which is at N13.89trn, you have a makeup of total recurrence, non-debt of
N6.21trn, personnel cost by MDAs at N3.47trn, and capital expenditure exclusive
of transfers of N3.26trn.
“Special
intervention recurrence amounting to N350bn and special intervention capital of
10bn.
“We
are thinking these should be approved but subject to debate by the House.”
In
a letter to the National Assembly, The Federal Government appealed to borrow
N4.89trn domestic and foreign loans to finance the 2022 budget deficit of
N5.62trn.
This
was contained in the highlights of the 2022-2024 Medium Term Expenditure
Framework and Fiscal Strategy Paper presented to the House.
Kalu
said that the House of Representatives will ensure the loan request is debated
amongst the lawmakers before ratification.
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