Reps postpone consideration of $22.7billion loan, as Southeast elite petitions

The Speaker of the House of Representatives, Femi Gbajabiamila on Tuesday declared the postponement of the consideration of the report on the $22.7billion loan request by President Muhammadu Buhari.

The consideration of the request on the floor of the house was scheduled for Tuesday but, Speaker, Gbajabiamila said it had to be postponed as a result of ongoing consultations with the Minister of Finance, Zainab Ahmed.

He said the report may be considered after a meeting with the minister on the loan request that is currently generating controversy.

The speaker made the declaration while talking on a petition from ‘Southeast Elite’ presented by Henry Nwajuba.

While presenting the motion, Nwajuba said the ‘southeast elite are concerned over the loan. He noticed that the group believes that the process of the loan is contradictory to the fiscal responsibility act and the Economic Recovery and Growth Plan of the current administration.

“Mr. Speaker, the ‘Southeast elite’ to intercede in the borrowing of $22billion, the procedure is against the norms, against the ERGP, the fiscal responsibility act and the debt management policy.”

“Your petition may take some time, I am in consultation with the minister of finance. I spoke with her this morning. The report was supposed to be on the Order paper, but I withdrew it, until I speak with the Minister.”

Including jokingly, “It seems this $22.7bilion does not concern your people, only the elite. When you bring the petition from ordinary people from your constituency.”