Buhari to re-present $30bn loan request –Lai Mohammed

Minister of Information and Culture, Lai Mohammed yesterday said that President Muhammadu Buhari would re-present to the Senate his request for foreign loan plan of about $30 billion.

The Senate had on Tuesday rejected the request for external borrowing plan of $29.96 billion to finance infrastructural projects across the country between 2016 and 2018.

But Mohammed during the briefing of State House Correspondents on the outcome of the Federal Executive Council meeting, explained that the government would continue to engage lawmakers on need for the loan.

According to him, the Senators would change their position and approve the request when the government makes more details available.

“It is not unusual for the government and the Senate to have some disagreements, they want more information. We will continue to engage them. We will give them all the information they need,” he said.

Also yesterday, Minister of State for Aviation, Hadi Sirika disclosed that government would in the next one week appoint transition adviser to facilitate the establishment of a new national carrier within the next 12 months.

According to him, the establishment of the national carrier would help meet the needs of Nigerians both on domestic and international routes.

He said this would also encourage competition, provision of good aircraft and eventually affect fares.

“The most important incentive is that between now and Wednesday, we will appoint transaction adviser for national carrier, once that is in place Nigerians will have options, they will be competition, good aircraft and this will bring the price down.”

He also said the new national carrier would be managed by the private sector with government owning only five percent stake.

The minister said FEC approved the revised total estimate cost of finishing Port Harcourt airport for both domestic and international wing.

According to him, the rehabilitation of the international wing of the airport would cost N1,684,520,310.58, saying that Messer Entaba, who is the original contractor would complete the project. He stated that the refurbishment of terminal building phase II domestic wing of the airport was reviewed from N746,830,782.12 to N1,411,662,855.67

“So FEC approves the project as it is captured in the 2016 and 2017 budget. So very soon we will complete that very important airport especially the arrival Port Harcourt airport has been tagged the worst airport in the world but by the grace of God and the wisdom of council, it will be completed,” Sirika said.

Speaking on foreign carriers that are threatening to leave Nigeria, the minister said it was due to the recession in the country as well as inability to get the airlines to repatriate in their currency what they earn through sales of tickets, he said the inability of the airlines to get aviation fuel at some point and other operational reasons had also made it difficult for the foreign airlines to operate and do business.

Sirika said foreign exchange required by local airlines was being provided now by government and would be made available for the airlines “Aviation is dollar denominated, you buy aircraft in dollar, you service in dollar, you train your crew in dollar, you do everything in dollar. And we simply do not have the dollar to pay these airlines.

“But now as we are talking, government through the CBN has made available $300 million out of the $600 million of the airlines funds stock in Nigeria to pay the airlines to demonstrate its commitment to the sector. And with devaluation, $600 million could be $1 billion. With government intervention, they have been given $300 million and gradually we will clear everything and once that happens, they are not going anywhere.

Meanwhile, Federal Government approved eight new private universities to commence academic activities. Briefing State House Correspondents after the meeting of the Federal Executive Council (FEC) presided over by President Muhammadu Buhari at the Presidential Villa, Minister of State for Education, Anthony Onwuka said the approval followed the recommendations of the National Universities Commission (NUC).

According to him, the new eight universities would be given three-year provisional licences, saying that some existing older universities in the country had been appointed as mentors of the new universities.

The new universities are Anchor University, Ayobo, Lagos, owned by Deeper Christian Life Ministry; Arthur Jarvis University, Akpabuyo, Cross River, owned by The Glitter House Nigeria Limited; Clifford University and Owerrinta, Abia, owned by Seventh Day Adventist Church.

Others are Coal City University, Enugu, owned by African Thinkers Community of Inquiry College of Education, Enugu; Crown-Hill University, Eiyenkorin, Kwara, owned by Modern Morgy and Sons Limited and Dominican University, Ibadan, owned by Order of Preachers, Nigerian Dominican Community.

Also granted license are Kola Daisi University, Ibadan, owned by Kola Daisi Foundation and Legacy University, Okija, Anambra

The minister disclosed that Anchor University would be mentored by the University of Lagos; Arthur Jarvis University would be mentored by the University of Calabar and Clifford University would be mentored by the University of Agriculture, Umudike, Umuahia. For Coal City University, Enugu, the mentor would be University of Nigeria, Nsukka; Crown-Hill University, Eiyenkorin would be mentored by the University of Ilorin while both Dominican and Kola Daisi University would be mentored by the University of Ibadan. The Minister further disclosed that Legacy University would be mentored by Nnamdi Azikiwe University, Akwa.

He explained that the issue of mentoring was part of Education Act Cap E3 Law of Federal Republic, 2004 implemented by the NUC and the Federal Ministry of Education.

“So, it is the part of the requirements. An older university old enough within the university zone where each of the new universities has been approved is given the mandate to oversee and mentor the new universities in terms of academic culture, administrative for three years within which period they must have learnt the art of university governance and academic details.

“There must some near-by big brothers that make sure you don’t operate outside the scope of what you are expected to do within the university structure. So, that mentoring is to supervise so that they don’t do the wrong thing,” he said.

Source;National Mirrow.