Nigeria News

Buhari govt to borrow N25.5bn to provide solar power for National Assembly

The federal government is to borrow N25.5bn ($62.1m) to construct 17MW hybrid solar power infrastructure for the National Assembly.

The loan is part of the President Muhammadu Buhari’s N7.6trn external borrowing request approved by the Senate Wednesday.

The chairman of the Senate Committee on Local and Foreign Debts, Senator Clifford Ordia, said his panel found that of the $22.8bn approved by the National Assembly under the 2016-2018 External Borrowing Plan, only $2.8bn, representing 10 percent, had been disbursed to Nigeria.

The committee, in its report, listed various proposed projects to be financed by the loans.

The $62.1m loan earmarked for construction of solar power plant in the National Assembly would be sourced from SINOCURE/Standard Chartered Bank.

The contract, according to the report, was awarded at a total value of $60.1m.

However, the report was silent on what the balance of $2m would be used for.

According to the report, the government also earmarked $100m to execute a project in the Ministry of Women Affairs tagged “Nigeria for Women Projects”.

The project, according to the document, is to support livelihoods for 324,000 women over the age of 18 years in targeted local governments in states of Abia, Kebbi, Niger, Ogun and Taraba States.

James Ewaoche Amedu

Recent Posts

Tension as new terrorist group ‘LAKURAWAS’ emerges in Nigeria

The Sokoto State Government has raised alarms about the emergence of a new terrorist group…

5 mins ago

Ujah: Ministry of Education breaks silence on suspension of FUHSO VC, issues fresh order

The Federal Ministry of Education has formally addressed the suspension of Prof. Innocent A.O. Ujah…

37 mins ago

‘Herdsmen after our women’ – Idoma community raises alarm

Residents of Ukwonyo community in the Ufia axis of Ado Local Government Area, Benue State,…

46 mins ago

FUHSO: Why we suspended Prof Ujah as Otukpo varsity Vice Chancellor – Governing Council

The Governing Council of the Federal University of Health Sciences, Otukpo, has explained why it…

54 mins ago

Baltasar Engonga: Fresh update emerges over leaked tapes of Equatorial Guinea official

The Director General of the National Financial Investigation Agency, in Equatorial Guinea, Baltasar Engonga, has…

2 hours ago

Tinubu makes fresh appointment

President Bola Ahmed Tinubu has appointed Abdulrazak Yusuf Tukur as the National Commissioner for the…

3 hours ago