The Senate has mandated its Committee on Local and Foreign Debts to conduct a thorough four-week appraisal of an executive request from President Bola Ahmed Tinubu to reimburse the Yobe State Government ₦100.5 billion for the construction of the Muhammadu Buhari International Cargo Airport, Damaturu.
The directive was issued by Senate President Godswill Akpabio following the formal reading of the President’s letter on the Senate floor during Tuesday’s plenary seesion. The committee has been given one month to review the submission and present its findings to the full chamber for final legislative determination.
The ₦100.5 billion expenditure covers the construction of the Damaturu-based international cargo airport, initially executed by the Yobe State Government prior to its official takeover by the Federal Government.
The takeover and subsequent financial settlement were formally approved during the Federal Executive Council’s (FEC) second extraordinary meeting on May 23, 2023.
Following a rigorous technical and financial evaluation, the Bureau of Public Procurement (BPP) reviewed the project costs and validated a final reimbursement figure of ₦100,509,017,234.55.
President Tinubu is seeking legislative authorization for the Debt Management Office (DMO) to issue promissory notes under the Federal Government’s Promissory Notes Programme to clear the financial obligation.
Under the directive of the Senate President, the Senate Committee on Local and Foreign Debts will evaluate the legal, financial, and procedural aspects of the transaction before returning to the Senate with its recommendations. The committee’s formal report will serve as the parliamentary basis for the Senate’s vote on the proposed promissory note issuance.
