President Bola Ahmed Tinubu has insisted of borrowing $800 million loan to finance the National Social Safety Network Programme (NSSNP).
Former President Muhammadu Buhari had in May 17, 2023 sought the approval of the House of Representatives on Wednesday for a fresh $800 million loan to finance the National Social Safety Network Programme (NSSNP).
But, till the expiration of Buhari’s tenure , the ninth Senate did not give approval to the loan requested by former President Buhari
However, the Senate President, God’swill Akpabio at the resumption of plenary session read President Tinubu request to borrow $800 million.
The request is coming less than 24 hours which President Tinubu requested for N500 billion to cushion the effect of fuel subsidy removal.
The letter reads: “Please note that the federal executive council led by President Muhammadu Buhari approved an additional loan facility to the tune of $800 million to be secured from the World Bank for the National Social Safety Net programme. Copy of FEC’s extract attached.
“You may also wish to note that the purpose of the facility is to expand coverage of shock responsive safety net support among the poor and vulnerable Nigerians. This will assist them in coping with basic needs.
“You may further wish to note that under the conditional cash transfer window of the programme, the federal government of Nigeria will transfer the sum of N8,000 per month to 12 million poor and low income households for a period of six months, with a multiplier effect on about 60 million individuals.
“In order to guarantee the credibility of the process, digital transfers will be made directly to beneficiaries’ accounts and mobile wallets.
“It is expected that the programme, will stimulate economic activities in the informal sector, and improve nutrition, health, education, and human capital development of beneficiaries’ households.
“Given the above, I wish to invite the Senate to kindly grant approval for the additional loan facility of $800 million to be secured from World Bank for the National Social Safety Net Programme.
“While hoping that this submission will receive expeditious consideration by the Senate, please accept the assurances of my highest regards.”
We are taking Nigeria Back from vested interest – Tinubu Tells Nigerian Women
President Bola Tinubu has assured women in the country that his administration is committed to ensuring that Nigeria is retrieved from the vested interests that have stifled her development.
He also assured the women that issues of security, healthcare system and industrialization would be top on priorities of his administration.
President Tinubu spoke on Thursday at the State House when he received in audience the All Progressives Congress Women Leaders in the 36 States and Federal Capital Territory, Abuja, led by the APC National Woman Leader, Dr. Betta Edu.
In a statement biasued by Special Adviser to President on Special Duties, Communication and Stategy, Dele Alake , President Tinubu declared that his administration was already implementing many policies and programmes that would positively impact the citizens.
This, he stated, includes the Students’ Loan Scheme, which he said would ensure their children enjoy a stable academic calendar in their respective tertiary institutions.
“We have established a scholarship scheme that would guarantee their four years of tertiary education,” he further said.
“Security is paramount in my administration’s agenda because women bear the cost of insecurity anywhere in the world. Issues of insecurity are being discussed at the highest level and this administration will ensure that insecurity is halted immediately.
“Medicare is another. We will ensure that health facilities are revamped and we will pursue this with vigour. Industrialization is yet another priority as your children and relations will gain employment,” President Tinubu stated.
While appreciating the women leaders for the visit, President Tinubu praised them for their support during the campaigns and elections, adding that they all deserve awards for their efforts.
“You all deserve gold medals because you worked so hard politically, overcoming so many obstacles like the fuel scarcity and Naira ‘confiscation,’ promising that their children would receive better rewards as their future is now guaranteed with the initiatives being put in place.”
With his new role as ECOWAS Chairman, President Tinubu told the visiting women that though his emergence would place on him additional responsibility, it would spur him to work even harder.
“We will continue to strive for a better Nigeria. You will not regret your confidence in this administration.”
Reaffirming his administration’s open-door policy, President Tinubu explained that the unity of the country is essential and central to his mind.
He advised the women leaders to be accommodating of others from other parties, who, having seen the silver lining and the brighter future that lie ahead, are now willing to come on board.
He tasked the APC women leaders to educate the citizens on the policies and programmes of his administration with the awareness that the present difficulties are temporary.
“You understand better, you are better coordinators, you know how to multi-task. The gains of the subsidy removal will be channeled to better the lives of Nigerians from the few that have been fleecing the nation,” the President said.
Earlier, APC National Woman Leader Edu stated that the women had come to congratulate the President on his victory at the polls, for the several good policies of his administration and for his election as ECOWAS Chairman at the last Summit.
The National Woman Leader enumerated the sterling records of the President as Governor of Lagos State which had endeared him to Nigerians.
These, Dr. Edu stated, include the unprecedented economic development of the state and infrastructural developments.
The APC Woman leader appealed to the President to consider more women in appointments into government positions.
