The Senate has urged the Nigerian Government to prioritise debt settlement by issuing Promissory Notes to clear outstanding reimbursement debts owed to states, judgment debts, and other liabilities incurred by various Ministries, Departments, and Agencies.
This resolution was adopted during Tuesday’s plenary following the presentation of a report from the Committee on Local and Foreign Debts regarding the Promissory Notes Programme. This program includes refunds to the Kebbi and Nasarawa State Governments for recently completed airport projects carried out on behalf of the Nigerian Government.
In May, the Senate considered President Bola Tinubu’s request to establish a Promissory Note program to reimburse Kebbi State with N15.1 billion and Nasarawa State with N9.5 billion for newly constructed airports undertaken on behalf of the Federal Government.
The Senate has now approved the Promissory Note programme to settle these outstanding claims and liabilities to Kebbi and Nasarawa State Governments.