TheCitizen - It's all about you
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials
No Result
View All Result
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials
No Result
View All Result
TheCitizen - It's all about you
No Result
View All Result

Senate approves $75 million World Bank loan for Edo State

meira by meira
August 14 2015
in Governance, Uncategorized
A A
1
22
SHARES
734
VIEWS
Share on FacebookShare on Twitter

The Senate on Thursday approved a 75 million World Bank loan for Edo state Development Policy Operation (DPO) as requested by President Muhammadu Buhari.

The approval followed the consideration of a single-prayer report of the ad hoc Committee on Local and Foreign Debt presented by Sen. Kabiru Gaya (APC Kano South).

The committee in its report urged the Senate to approve the loan, stating that the World Bank had already considered the state ready for it.

Sen. Adamu Aliero (APC Kebbi Central), in his contributions, said that Edo State had qualified for this loan, because the state had met the conditions set by the World Bank.

Aliero said that the loan would help increase the internally generated revenue of the state and, therefore, urged the Senate to approve it. He also called on other states that have the capacity to borrow, to go ahead and take such loans, as long as they could utilize such judiciously.

The Leader of the Senate, Ali Ndume, while supporting the motion for the approval of the loan, encouraged other states with genuine needs to take advantage of such low interest loans, rather than the patronising commercial banks. “The first tranche of this borrowing plan had already been approved by the senate and the World Bank has strict borrowing conditions– which the state has met.

“I therefore move that we approve this loan,” he said. However, Sen. Matthew Urhoghide (PDP Edo South) while supporting the approval of the loan, expressed the misgivings of the people of the State about it.

He said that on the day the Senate received the letter from Mr President, he got over 2000 text messages and emails; “out rightly, the people have said that they do not want the loan.’’

Urhoghide, argued that although the loans would bring about more gains for the people of the state, there was need to accede to the yearnings of the Edo people and verify the misgivings expressed by the people of the state.

The senator said that the first tranche of the loan was used for projects that were not visible, and urged that the second tranche should be judiciously utilized to clear the doubts of the people.

“This loan was premised on certain things that the state government said it was going to do, it was meant to enhance good governance, it was not meant to be used on things that were tangible or visible. “It was to enhance private sector development, improve facilities for increased IGR in the state and increase private investment and employment opportunities.

“I am not standing to oppose what has been granted by Mr President or the desire of the state government, I am here to look at some
of the views expressed by the people on the things that have been done with first tranche. “We need to verify some of the claims that has been made, we need to look at the report that has been given by the World Bank– if they are satisfactory,” he said.

The senate, however, approved the loan though with a tangible number of dissenting voices. The 75 million dollars loan is the second tranche of a 225 million dollar Development Policy Operation loan approved for the state by the World Bank. Vanguard

Share9Tweet6
Previous Post

NCC gives conditions for reactivating blocked SIM cards

Next Post

FG hires PwC, KPMG to audit NNPC, FIRS, others

Related Posts

Imo police boss to probe officers in viral video with cult insignia
Governance

Imo police boss to probe officers in viral video with cult insignia

October 18 2025
#FreeNnamdiKanuNow: Court bars Sowore, others from protesting around Aso Rock Villa, others
Governance

#FreeNnamdiKanuNow: Court bars Sowore, others from protesting around Aso Rock Villa, others

October 18 2025
Nigeria at critical juncture – Vanguard
Governance

Nigeria ranks 115th out of 125 countries on Global Hunger Index

October 17 2025
FG hasn’t stopped funding of federal roads in South-East, says Works Minister
Governance

FG denies substandard work on Ondo Expressway project

October 16 2025
Fubara orders fresh LG elections in Rivers State
Governance

Rivers govt cancels N134 bn Ibas-awarded contract, orders refund

October 16 2025
Senate moves to fast-track reconstruction of Anyigba–Dekina–Shintaku Road
Governance

Senate moves to fast-track reconstruction of Anyigba–Dekina–Shintaku Road

October 15 2025
Next Post

FG hires PwC, KPMG to audit NNPC, FIRS, others

Kaduna Refinery produces at 60% capacity

Comments 1

  1. Abubakar Abbas says:
    10 years ago

    Sen.Mathew Uroghide was only being partisan and economic with truth. Partisan
    because, he is from the opposition party (PDP) in the state. Economical with
    the truth because the first tranche of that loan was judiciously utilized. Oshiomole
    has done remarkably well in turning around the fortune of that state in
    virtually every ramification. Those who knew Edo state in the 8 years of PDP
    malfeasance and miss rule with Lucky Igbenedion will be amazed and dazzled with
    attendant developments Oshiomole has done in the state. So, he deserved the approval and I will say a
    very big Kudos to Senate under Senator Saraki and say a very big thank you to Mr.President Buhari!

    Reply

Leave a Reply Cancel reply

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

FROM THE GRASSROOTS

ALGON orders Edo council officials to wear Tinubu’s signature caps

ALGON orders Edo council officials to wear Tinubu’s signature caps

by The Editor
October 18 2025
0

...

Olubadan unveils legal committee to tackle land grabbing

Olubadan unveils legal committee to tackle land grabbing

by The Editor
October 15 2025
0

...

Birnin Gwari needs urgent federal intervention – Emir tells Tinubu

Birnin Gwari needs urgent federal intervention – Emir tells Tinubu

by The Editor
October 13 2025
0

...

Rivers court adjourns hearing on LG poll legitimacy

Rivers court adjourns hearing on LG poll legitimacy

by The Editor
September 16 2025
0

...

APPOINTMENTS

Tinubu seeks Omidiran, 28 others’ confirmation as FCC members

Tinubu seeks Omidiran, 28 others’ confirmation as FCC members

by The Editor
October 15 2025
0

...

Okpebholo swears in 19 commissioners, warns against corruption

Okpebholo swears in 19 commissioners, warns against corruption

by The Editor
October 15 2025
0

...

Fubara drops Danagogo, appoints Anabraba as Rivers SSG

Fubara drops Danagogo, appoints Anabraba as Rivers SSG

by The Editor
October 13 2025
0

...

Savannah Energy signs agreement with Chadian govt for new renewable energy projects

Savannah Energy announces board changes, appoints two Nigerians as Independent Non-Executive Directors

by The Editor
October 9 2025
0

...

ODDITIES

Lagos to probe school over alleged sodomy

Father impregnates 15-year-old daughter in Ondo

by The Editor
October 17 2025
0

Court orders exhumation, autopsy of Afriland Towers fire victims

Court orders exhumation, autopsy of Afriland Towers fire victims

by The Editor
October 15 2025
0

Slain husband’s dad forgives Maryam Sanda, backs Tinubu’s pardon

Slain husband’s dad forgives Maryam Sanda, backs Tinubu’s pardon

by The Editor
October 14 2025
0

GLOBAL NEWS

Madagascar’s military leader swears in as president

Madagascar’s military leader swears in as president

by The Editor
October 18 2025
0

...

Trump, Putin to meet in Budapest over Ukraine war

Trump, Putin to meet in Budapest over Ukraine war

by The Editor
October 17 2025
0

...

2026 Hajj: Saudi govt approves 66,910 slots for Nigeria

2026 Hajj: Saudi govt approves 66,910 slots for Nigeria

by The Editor
October 17 2025
0

...

Trump persuades India to stop buying Russian oil

Trump persuades India to stop buying Russian oil

by The Editor
October 16 2025
0

...

Former Kenyan Prime Minister Raila Odinga dies in India

Former Kenyan Prime Minister Raila Odinga dies in India

by The Editor
October 15 2025
0

...

State of the States

21.8% North-East residents HIV positive – NBS …as 16,000 die from HIV complications in Borno

Adamawa records 8,850 new HIV infections in four years

by The Editor
October 17 2025
0

...

Zamfara APC condemns state govt’s mass sacking of civil servants

Zamfara APC condemns state govt’s mass sacking of civil servants

by The Editor
October 14 2025
0

...

Gov. Otti set to build modern fire station in Umuahia

Gov. Otti set to build modern fire station in Umuahia

by The Editor
October 7 2025
0

...

Senator denies bill to rename Kaduna to Zazzau State

Kaduna State pays ₦72,000 minimum wage

by The Editor
September 18 2025
0

...

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Imo police boss to probe officers in viral video with cult insignia

Imo police boss to probe officers in viral video with cult insignia

October 18 2025
DHQ denies alleged coup attempt to topple fed govt

DHQ denies alleged coup attempt to topple fed govt

October 18 2025
FG drives grassroot mobilisation campaign for PVC collection

FG drives grassroot mobilisation campaign for PVC collection

October 18 2025
Nigeria: IMF insists on fuel subsidy removal

Nigeria missing as IMF lists Africa’s fastest-growing economies

October 18 2025

EDITORIAL REVIEW

End female genital mutilation – Punch

End female genital mutilation – Punch

by The Editor
October 17 2025
0

Nnaji: Nigeria’s dodgy vetting processes – Punch

Nnaji: Nigeria’s dodgy vetting processes – Punch

by The Editor
October 16 2025
0

Vacations and governance: Why President Tinubu’s trip matters -Guardian

Tinubu, honour promise to ASUU – Punch

by The Editor
October 15 2025
0

The killings in the South East – Thisday

The killings in the South East – Thisday

by The Editor
October 14 2025
0

IOCs: Implement host communities’ projects – Punch

IOCs: Implement host communities’ projects – Punch

by The Editor
October 13 2025
0

Opinion

Tinubu finds his own demons

Next time, Umahi should go to NTA

by The Editor
October 16 2025
0

...

Objections over presidential pardon for grave offenders

Objections over presidential pardon for grave offenders

by The Editor
October 13 2025
0

...

1975 public service purge: What have we learnt?

1975 public service purge: What have we learnt?

by The Editor
September 30 2025
0

...

Tinubu finds his own demons

Nigeria’s state of weakness

by The Editor
September 18 2025
0

...

Plugin Install : Popular Post Widget need JNews - View Counter to be installed
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials

© 2024 TheCitizen Ng. All Rights Reserved.

No Result
View All Result
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials

© 2024 TheCitizen Ng. All Rights Reserved.