El- Rufai seeks $350m loan through backdoor – Senators

The three Senators from Kaduna State yesterday alleged that the Kaduna State government under Governor Nasiru El-Rufai is seeking to take a loan of $350 million through the backdoor.

The Senate had in March rejected the $350m loan request by the state government on the ground that it would double its debt profile from $232m to $532m.

Senators Shehu Sani , Suleiman Hunkuyi and Danjuma La’ah in a statement said after failing the legal litmus test in obtaining a World Bank facility to the tune of USD 350m, through the process of the Nigerian Senate, the Kaduna State government has resorted to other routes.

“Information available to us the three senators representing Kaduna State confirms the resort by Kaduna State Government to other routes in obtaining loans, local and international.

“The committee on Foreign and Local Loans/Debts of the Senate is not unaware of efforts by the Kaduna State Government, to negotiating with some Finance Houses to procure huge foreign loans to the detriment of Kaduna State Government.

“Such efforts being made through private finance management companies may have to do with the failure of the State Government to secure the disapproved USD 350m earlier this year through the Senate.

“The general public to note, the extent of desperation the State Chief Executive went to town on personalizing the official disapproval of the Loan, which was officially reported by the Senate and backed by the DMO official reports,” the statement reads.The senators said desperation of the State Government has now reached an epoch of ‘reckless’ dimension as to use private Finance Companies (Home and Abroad) to negotiate and procure similar facilities through other mediums alternatively circumventing the Senate.

The senators requested the committee for Finance and Clerk to the Kaduna State House of Assembly to publish all requests for Local and Foreign Loans received from the Kaduna State Government, and the various approval and those under consideration of the House or its relevant committees.