Reps concur with Senators, approve $6.183bn FG external loan request

The House of Representatives has approved the federal government’s request for $6.183 billion (N2.343 trillion) as external borrowing in 2021 Appropriation Act.

The approval followed the consideration and adoption of clauses in the report presented by the committee on Aids, Loans and Debt Management, chaired by

Hon. Ahmed Dayyabu Safana.

The House also gave approval for the bill seeking to establish a Defence Research and Development Bureau (DRDB) to conduct and coordinate robust research and development in the Armed Forces of Nigeria.

The approval was sequel to the consideration and adoption of the 5 parts and 34 Sections of the Bill’s report, presented by Chairman House Committee on Defence, Hon. Babajimi Benson.

Presenting the report, Benson said the objective of the Bureau was to conduct and coordinate robust research and development in the Armed Forces of Nigeria (AFN); coordinate the research and development efforts of the three services of the Nigerian Armed Forces; crystallize the results of scientific and technical research on defence items and equipment for public and private institutions; provides scientific technical information to the Armed Forces of Nigeria and allies amongst others.

He said, “The functions of the Bureau are to enter into such agreement, liaisons, memoranda of understanding, cooperation, partnership, etc with such institutions, agencies, corporations etc, as may be necessary from time to time or desirable, subject to the approval of the Governing Council; be responsible for the discipline and welfare of its personnel; deal with matters relating to the discipline of military personnel in the Bureau according to the Armed Forces Act; conduct and sponsor studies and researches in military industrial production and related fields of studies amongst others.”

 

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

No reversal of ban on sales of forex to Bureaux De Change – CBN

The Central Bank of Nigeria (CBN) says it will not reverse its decision to ban the sales of foreign exchange to Bureaux De Change (BDCs).