Tinubu seeks approval to borrow $20.5bn, €1.05bn

The Senate resumed its plenary last Tuesday with an executive communication in which President Bola Tinubu sought the National Assembly’s approval to process external loans worth $20.5 billion and €1.04 billion under the 2026–2027 Supplementary External Borrowing Plan.

The president said the proposed loans would finance critical projects across sectors, including infrastructure, agriculture, healthcare, education, water supply, security and employment generation, as well as financial management reforms.

In the letter, Mr Tinubu said the borrowing was necessary to support his administration’s reform agenda. He added that the projects had been selected based on technical and economic evaluations and their expected contributions to the country’s socio-economic development.

After reading the letter, Senate President Godswill Akpabio referred the request to the Senate Committees on Local and Foreign Debts and Appropriations for further scrutiny. He directed the committees to report back within one week.

Bill on transfer of convicted Nigerians to serve sentences at home

On the same day, Mr Akpabio read another executive communication in which President Tinubu transmitted a bill seeking to empower the Nigerian government to enter into agreements with other countries for convicted Nigerian citizens to serve their sentences in Nigeria.

The bill seeks to amend the Transfer of Convicted Offenders Enactment and Enforcement Act, 2004, to facilitate the transfer of convicted offenders between Nigeria and other countries under mutual agreements.

In the letter, the president said the proposed legislation would empower the Nigerian government to enter into agreements with other countries to transfer convicted offenders to Nigeria.

He also said it would enable Nigeria to honour similar requests from foreign governments, subject to the agreements’ terms.

Lawmakers move to make identification compulsory for renting apartments in Abuja

As part of efforts to curb criminal activities in the Federal Capital Territory (FCT), lawmakers of the upper chamber on Tuesday resolved to initiate legislation requiring tenants in the territory (FCT) to present valid means of identification before renting apartments.

Mr Akpabio directed Senate Leader Opeyemi Bamidele to draft the bill for the National Assembly’s consideration.

He gave the directive during plenary while lawmakers were debating a report by the Senate committees on Diaspora and Non-Governmental Organisations; Judiciary, Human Rights and Legal Matters; Foreign Affairs; and Special Duties on the need to protect Nigerians from being trafficked to Libya for slavery.

The report was presented by Aniekan Bassey, chair of the Senate Committee on Diaspora and Non-Governmental Organisations.

Mr Akpabio expressed concern that many property owners rent out their properties to strangers without obtaining adequate information about their identities, occupations and other relevant details.

He said lack of proper documentation makes it difficult for security agencies to trace suspects when crimes are committed, allowing perpetrators to escape without leaving a clear trail.

Senators honour departed Afenifere leader, Reuben Fasoranti

The Senate on Wednesday called on the federal government to immortalise the late National Leader of Afenifere, the pan-Yoruba socio-political organisation, Reuben Fasoranti, who died at the age of 100.

The upper chamber recommended that an educational institution be renamed after the late elder statesman in recognition of his contributions to the advancement of education in South-west Nigeria.

The lawmakers adopted the resolution following a motion sponsored by Adeniyi Adegbonmire (APC, Ondo Central) during plenary.

Moving the motion, Mr Adegbonmire, who chairs the Senate Committee on Judiciary, Human Rights and Legal Matters, said Mr Fasoranti’s contributions to education profoundly influenced his approach to governance, particularly his emphasis on human welfare and humanitarian service.

The senator described Mr Fasoranti as a committed follower of the late nationalist and politician Obafemi Awolowo, who led the Action Group during the First Republic and later became associated with the Unity Party of Nigeria (UPN) during the Second Republic.

He also noted that Mr Fasoranti was among prominent Nigerians who opposed military rule and advocated restoring democratic governance in the country.

Discover more from Premium Times Nigeria

Subscribe to get the latest posts sent to your email.

Senate Update: Tinubu seeks big loan, bill to bring convicts home, Abuja landlords must see ID before renting

Suggested for you

More Stories

Solar for Lagos: Check How Much It Costs and What You Gain

Large Stocks Boost Nigerian Market, It Gains N2 Trillion in October

Russia to Help Ghana Build 2,000MW Nuclear Power Plant – Ablakwa

Dangerous practice: Some sellers add melted nylon to keep plantain chips crunchy

Monarch Killed: Governor Nwifuru Wants Kidnappers to Face Death Penalty

itel Energy Promises to Fix or Replace Faulty Solar Equipment Within 48 Hours for Nigerian Customers

Discussion