Breaking: Senate secretly approves $1b Eurobond loan

Facts emerged on Wednesday that the Senate has secretly given approval to the $1 billion Eurobond requested by President Muhammadu Buhari to finance the 2016 Budget deficit.
This was revealed in a statement on Wednesday by the Senate spokesman, Abdullahi Sabi.
The statement equally faulted the position of the Minister of Transportation, Rotimi Amaechi, that the National Assembly was a clog in the wheel of infrastructural development.
It said part of the approval was for two rail lines under Amaechi’s supervision.
The statement reads: “As at today, the only request for approval from the Executive for loan was the one dated January 27, 2017 and signed by Acting President, Professor Yemi Osinbajo seeking a ‘resolution of the National Assembly For the Issuance of USD 1 Billion EuroBond In the International Capital Market For The Funding of the 2016 Budget Deficit’ and we immediately granted the approval.
“Also, in the letter quoted above, the Government mentioned the two rail lines cited by the minister as part of the projects for which the EuroBond will be utilised. So, we cannot understand what the grouse of Mr. Amaechi is.‎”
Checks by The Eagle Online revealed that before the Senate adjourned plenary for three weeks the last time, the issue of the $1 billion Eurobond was not discussed.
It was gathered the issue of the loan might have been resolved when the Senate President, Dr. Abubakar Bukola Saraki, and the Speaker of the House of Representatives, Yakubu Dogara, held a closed door meeting with the Acting President, Prof. Yemi Osinbajo‎.