Buhari writes HoR, seeks approval of $800m safety loan
By Tom Okpe
President Muhammadu Buhari has written the House Representatives, seeking approval of $800 million loan to fund National Social Safety Network Programme, (NASSP) and passage of the Federal Fire and Rescue Service, (Establishment) Bill, 2022.
These requests were in two separate letters read by the Speaker of the House of Representatives, Femi Gbajabiamila at resumed plenary on Wednesday.
Buhari said the programme is intended to expand coverage of shock responsive Safety Net support among the poor and vulnerable Nigerians by assisting them in coping with costs of meeting basic needs.
“It is with pleasure that I forward the above subject to you. Please note that the Federal Executive Council, (FEC) approved an additional loan facility to the tune of USD 800 million to be secured from the World Bank, for NASSP and need to request your consideration and approval to ensure early implementation.
“The House may wish to note that the Programme is intended to expand coverage of shock responsive Safety Net support among the poor and vulnerable Nigerians. This will assist them in coping with the costs of meeting basic needs.
“In order to guarantee credibility of the process, digital transfers will be made directly to beneficiaries account and mobile wallets.
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“You may wish to note that, the Federal Government of Nigeria under the conditional cash transfer window of the programme will transfer the sum of N5,000 per month to 10.2 million, poor and low-income household for a period of six month with a multiplier effect on about 60 million individuals.
“The NASSP being a social intervention programme will stimulate activities in the informal sector, improve nutrition, health, education and human capital development of beneficiary households.
“Given the above, I wish to invite the House to kindly approve an additional loan facility to the tune of USD 800 million to be secured from the World Bank, for the National Social Safety Net Programme (NASSP).
“While hoping that this submission will receive expeditious consideration by the House,” the loan letter reads.
In the second letter, the president requested the expeditious passage of the Federal Fire and Rescue Service, (Establishment) Bill, 2022 which aims to, ‘establish and provide legal and institutional framework for the Fire and Rescue Service.’
Meanwhile, the House adjourned plenary indefinitely to allow members-elect to complete the ongoing induction.
Ibrahim Isiaka from Ogun state moved the motion for plenary to be adjourned due to the ongoing induction.
The Deputy Speaker, Ahmed Idris-Wase kicked against the motion that the House does not have to adjourn sitting because of the induction but, it was so moved, and the House got adjourned.
