President Muhammadu Buhari has written to the House of Representatives to convey the approval granted by the Federal Executive Council (FEC) for reimbursement of N18, 663,843,119.39 to Yobe State for the execution of five Federal Government roads as presented to the Council meeting of July 16, 2022.
In another letter, he wrote to convey the approvals granted by FEC for reimbursement of N6, 706,835,495.12 for the Kebbi State Government, for the execution of two Federal Government roads and N2, 470,525,729.53 in favour of the Taraba State Government for the construction and rehabilitation of Bali-Serti-Gembu Road as presented to the Council meeting of August 24, 2022.
Both letters were read by the Speaker of the House of Representatives at the resumption of the Plenary yesterday.
Given Current Fiscal Constraints, I have approved that the reimbursement is made through Issuance of Promissory Note.
Because of the foregoing, the House may wish to consider and approve the issuance of Promissory Note by Debt Management Office (DMO) to Yobe State for the execution of five federal road projects in the state,” the President said.
Similarly, the second letter reads: “Given Current Fiscal Constraints, I have approved that the reimbursements be made through Issuance of Promissory Notes.
Because of the foregoing, the House may wish to consider and approve the issuance of Promissory Notes by Debt Management Office (DMO) to Kebbi and Taraba State Governments respectively”