Amaechi’s claim on foreign loans incorrect, says Senate

Amaechi’s claim on foreign loans incorrect, says Senate

by Joseph Anthony
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Minister of Transportation Rotimi Amaechi

The Senate yesterday asked Minister of Transportation Rotimi Amaechi to withdraw his claim the National Assembly’s refusal to approve foreign loan requests was stalling execution of projects.

It said Amaechi allegedly made the statement in Ilorin on Monday during the Northcentral Town Hall meeting by the Federal Government.

The Senate said Amaechi was reported to have claimed refusal by the National Assembly to approve the government’s request for foreign loan to be used for counterpart funding was frustrating construction of the Lagos-Ibadan and Ibadan-Ilorin-Minna-Kano rail lines.

The Senate, in a statement by its spokesman, Aliyu Sabi Abdullahi, said the statement was not only “false, misrepresenting and contradictory to available facts, but it also portrayed the minister as not in tune with the position of the government in which he is serving”.

It said: “As at today, the only request for approval from the Executive for loan was the one dated January 27, 2017 and signed by Acting President Yemi Osinbajo, seeking a “resolution of the National Assembly for the Issuance of USD 1 Billion EuroBond in the International Capital Market for the funding of the 2016 Budget Deficit” and we granted the approval.

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