Senate approves $200m World Bank loan for Lagos

Related stories

Top 10 wealthiest cities in the world in 2025

1/11 Wealthiest cities in the world ​In 2025, the global distribution...

BREAKING! Judge Halts Trump’s Ban on Harvard’s International Students Enrollment

By Abiola Olawale A federal judge has issued a temporary...

Why No Foreigner Should Enter Nigeria Without Visa — Tunji-Ojo Tells Airlines

By Kolawole Ojebisi The Minister of Interior, Dr Olubunmi Tunji-Ojo,...

2027: Atiku, Sambo Visit Aregbesola in Osun Ahead of Owa Obokun’s Historic Coronation

• Obasanjo, Adeleke, Oyetola, Others Also Present By Abiola Olawale Former...

Belgium’s future queen caught up in Harvard foreign student ban

Princess Elisabeth, the 23-year-old future queen of Belgium, has...

The Senate on Wednesday, approved the $200 million loan request for the Lagos State government, following deliberation of the report of Ad-hoc Committee on Foreign and Local debt to which the request was referred a fortnight ago.

Ambode-Lagos1

Senator Kabiru Gaya (APC Kano South), in a motion for the consideration of the report, said: “That the Senate do consider the Report of Ad-Commiittee on Local and Foreign Debts for Special approval of Lagos State Development Policy Operation (DPO) loan budget support of US$200 Million from the World Bank.”

Supported by Senator Remi Tinubu (APC Lagos), Gaya explained that the loan would go a long way developing the state’s infrastructure and in generating jobs for the teeming unemployed in Lagos State.

In his contribution, Senator Danjuma Goje, however warned that the loan should not be taken just for the sake of it, but should be expended judiciously and purposefully so that when it was being paid back people could point to the infrastructures it was used for.

“Mr Senate President, my own is to express caution. Loans are meant to be paid back with interest and so it should be judiciously used to the extent that the people of Lagos State could point to those things it was used for,” he noted.

On his part, Senator George Sekibo called on the Senate to ensure a detailed probe of past loans, adding that the red chamber should be carried along in the implementation of those targeted infrastructures so as to avoid corruption and misapplication of the funds.

“Distinguished colleagues, I want to state that the Senate Committee always look into activities of past loans taken with a view to ascertain how it was used and also that from time to time the Senate should be carried along in the implementation in other to avoid corruption and misapplication of funds,” Sekibo submitted.

Meanwhile, the ‘ayes’ had it, when Senate President Bukola Saraki put the request to a voice vote, after the deliberations.

Hamilton Nwosa
Hamilton Nwosa
Hamilton Nwosa is an experienced, and committed communication, business, administrative, data and research specialist . His deep knowledge of the intersection between communication, business, data, and journalism are quite profound. His passion for professional excellence remains the guiding principle of his work, and in the course of his career spanning sectors such as administration, tourism, business management, communication and journalism, Hamilton has won key awards. He is a delightful writer, researcher and data analyst. He loves team-work, problem-solving, organizational management, communication strategy, and enjoys travelling. He can be reached at: hamilton_68@yahoo.com

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

[tds_leads input_placeholder="Your email address" btn_horiz_align="content-horiz-center" pp_msg="SSd2ZSUyMHJlYWQlMjBhbmQlMjBhY2NlcHQlMjB0aGUlMjAlM0NhJTIwaHJlZiUzRCUyMiUyMyUyMiUzRVByaXZhY3klMjBQb2xpY3klM0MlMkZhJTNFLg==" pp_checkbox="yes" tdc_css="eyJhbGwiOnsibWFyZ2luLXRvcCI6IjMwIiwibWFyZ2luLWJvdHRvbSI6IjQwIiwiZGlzcGxheSI6IiJ9LCJwb3J0cmFpdCI6eyJtYXJnaW4tdG9wIjoiMTUiLCJtYXJnaW4tYm90dG9tIjoiMjUiLCJkaXNwbGF5IjoiIn0sInBvcnRyYWl0X21heF93aWR0aCI6MTAxOCwicG9ydHJhaXRfbWluX3dpZHRoIjo3NjgsImxhbmRzY2FwZSI6eyJtYXJnaW4tdG9wIjoiMjAiLCJtYXJnaW4tYm90dG9tIjoiMzAiLCJkaXNwbGF5IjoiIn0sImxhbmRzY2FwZV9tYXhfd2lkdGgiOjExNDAsImxhbmRzY2FwZV9taW5fd2lkdGgiOjEwMTksInBob25lIjp7Im1hcmdpbi10b3AiOiIyMCIsImRpc3BsYXkiOiIifSwicGhvbmVfbWF4X3dpZHRoIjo3Njd9" display="column" gap="eyJhbGwiOiIyMCIsInBvcnRyYWl0IjoiMTAiLCJsYW5kc2NhcGUiOiIxNSJ9" f_msg_font_family="downtown-sans-serif-font_global" f_input_font_family="downtown-sans-serif-font_global" f_btn_font_family="downtown-sans-serif-font_global" f_pp_font_family="downtown-serif-font_global" f_pp_font_size="eyJhbGwiOiIxNSIsInBvcnRyYWl0IjoiMTEifQ==" f_btn_font_weight="700" f_btn_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTEifQ==" f_btn_font_transform="uppercase" btn_text="Unlock All" btn_bg="#000000" btn_padd="eyJhbGwiOiIxOCIsImxhbmRzY2FwZSI6IjE0IiwicG9ydHJhaXQiOiIxNCJ9" input_padd="eyJhbGwiOiIxNSIsImxhbmRzY2FwZSI6IjEyIiwicG9ydHJhaXQiOiIxMCJ9" pp_check_color_a="#000000" f_pp_font_weight="600" pp_check_square="#000000" msg_composer="" pp_check_color="rgba(0,0,0,0.56)" msg_succ_radius="0" msg_err_radius="0" input_border="1" f_unsub_font_family="downtown-sans-serif-font_global" f_msg_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTIifQ==" f_input_font_size="eyJhbGwiOiIxNCIsInBvcnRyYWl0IjoiMTIifQ==" f_input_font_weight="500" f_msg_font_weight="500" f_unsub_font_weight="500"]

Latest stories

NDN
Latest News
Top 10 wealthiest cities in the world in 2025BREAKING! Judge Halts Trump's Ban on Harvard’s International Students EnrollmentWhy No Foreigner Should Enter Nigeria Without Visa --- Tunji-Ojo Tells Airlines2027: Atiku, Sambo Visit Aregbesola in Osun Ahead of Owa Obokun’s Historic CoronationBelgium’s future queen caught up in Harvard foreign student banHarvard Drags Trump's Govt to Court Over International Students Enrollment Ban2027: Yahaya Bello Speaks on Presidential Ambition, Tinubu2027: A'Ibom Governor, Umo Eno Tells Aides: Defect With Me Or ResignFagbemi: How Nigeria Was Rescued From $11bn P&ID ScamExclusive! 2027: Atiku, Obi, El-Rufai, Amaechi, Fayemi, Aregbesola, Shekerau, Mark, Others Meet SundayShagari: Why APC Adopted Tinubu As Sole Presidential Candidate For 2027Defection: You Don't Blame People For Bailing Out Of Sinking Ship, Tinubu Taunts CriticsBREAKING! Trump Blocks Harvard University's International Students EnrollmentUzodinma, Sanwo-Olu, Zulum, Other APC Governors Endorse Tinubu as 2027 Presidential FlagbearerMinority Leader Kicks As Another LP Legislator Dumps Party For APC
X whatsapp