President Bola Tinubu on Tuesday asked the Senate to approve a N100.5bn promissory note programme to reimburse the Yobe State Government for the construction of the Muhammadu Buhari International Cargo Airport in Damaturu.
In a letter addressed to the President of the Senate, Godswill Akpabio, Tinubu sought legislative approval for the issuance of the promissory note through the Debt Management Office.
The President said the Federal Executive Council, at its second extraordinary meeting held on May 23, 2023, approved the takeover of the airport, built by the Yobe State Government, and the reimbursement of the construction cost through a promissory note programme.
According to the letter, the Bureau of Public Procurement had completed its review of the project and recommended N100.5bn as the amount to be reimbursed to the state government.
“In the light of the foregoing, I urge the Senate to consider and approve the establishment and issuance by the Debt Management Office of a promissory note programme in the sum of N100,509,017,234.55,” Tinubu stated.
The President also urged the lawmakers to expedite consideration of the request.
“While looking forward to the expeditious action on this submission, please accept, Distinguished Senate President, the assurances of my highest esteem,” the letter read.
The request was subsequently referred to the relevant Senate committee for further legislative consideration.
The proposed reimbursement follows the Federal Government’s approval to take over the airport project and compensate Yobe State for the cost of its construction.
The promissory note programme would provide the framework for settling the amount due to the state, subject to the Senate’s approval.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Contact: [email protected]