The Senate on Wednesday, November 18, considered and approved a loan of 200million dollars for Lagos State Development Policy Operation II (DPO II) loan.
The report of the ad hoc committee on local and foreign debts was sponsored by Kabiru Gaya representing Kano South senatorial district.
Bukola Saraki, the Senate president while commending his colleagues on their efforts in the report emphasized the importance of such developmental loans.
“It is our responsibility that we do our work in our respective committees so we can do the proper oversight that is required.
“Loans must be considered on case by case basis loans for infrastructural development should be commended and approved provided the loans are used effectively for infrastructure,” he said.
George Sekibo representing Rivers East senatorial district said that it is important for the loan to be followed up.
“It is one thing to borrow it is another to ensure that they are well utilised,” he said.
Danjuma Goje representing Gombe state while seconding the motion for the loan to be approved stated that there should be proper monitoring and evaluation on how the loan is spent and how they will be relayed.
He added that all the governor’s will not mind loans like this if given the opportunity.
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