N10tn infrastructure request gets N’Assembly nod
Deji Elumoye in Abuja
The Chairman of the Independent National Electoral Commission (INEC), Professor Mahmood Yakubu, has revealed that the commission will save N300 million by its plan to hold both the Kogi State governorship election and Kogi West senatorial rerun on Saturday, November 16.
Yakubu, who stated this at the 2020 Budget Defence session his agency had with the Joint National Assembly Committee on INEC, said “we decided to combine the two elections after realising a margin of N300 million. So, voters in Kogi west will now have two ballot papers and two boxes during the election. We have saved the cost of adhoc staff, observers, media and other logistics of conducting two elections, independently” .
The INEC boss added that the commission will combine governorship poll in Bayelsa State with supplementary election in six places in Brass Local Government Area on the same November 16.
Meanwhile, National Assembly and the Executive yesterday agreed to float a bond of N10trillion to address the problem of infrastructural deficit afflicting the country across the various sectors amid scarce resources to fix them.
The agreement by both arms of government for the bond came up during budget defence session the Federal Ministry of Works had with the National Assembly joint committee of Works based on request made to that effect by the Minister of Works and Housing, Mr. Babatunde Fashola.
The minister had in his submissions called for the launching of national infrastructure bonds of N10 trillion to close gap of fund releases and yearly deficit capital budgets financing.
According to him, the infrastructure bond should be backed by law as well as being with a very competitive coupon rate adding that people, ministries and government agencies would feel secured to put in their monies if given legislative treatment.
‘’What I will recommend which I have addressed during my confirmation here was that we should launch the national infrastructure bond and this would be the responsibility of the ministry of finance and Debt Management Office.