House Concurs with Senate, Approves $6.183bn External Loan Request
Udora Orizu in Abuja
The House of Representatives has approved the federal government’s request for $6.183 billion (N2.343 trillion) as external borrowing in 2021 Appropriation Act.
The approval followed the consideration and adoption of clauses in the report presented by the committee on Aids, Loans and Debt Management, chaired by Hon. Ahmed Dayyabu Safana.
The House also gave approval for the bill seeking to establish a Defence Research and Development Bureau (DRDB) to conduct and coordinate robust research and development in the Armed Forces of Nigeria.
The approval was sequel to the consideration and adoption of the 5 parts and 34 Sections of the Bill’s report, presented by Chairman House Committee on Defence, Hon. Babajimi Benson.
Presenting the report, Benson said the objective of the Bureau is to conduct and coordinate robust research and development in the Armed Forces of Nigeria (AFN); coordinate the research and development efforts of the three services of the Nigerian Armed Forces; crystallize the results of scientific and technical research on defence items and equipment for public and private institutions; provides scientific technical information to the Armed Forces of Nigeria and allies amongst others.
He said, “The functions of the Bureau are to enter into such agreement, liaisons, memoranda of understanding, cooperation, partnership, etc with such institutions, agencies, corporations etc, as may be necessary from time to time or desirable, subject to the approval of the Governing Council; be responsible for the discipline and welfare of its personnel; deal with matters relating to the discipline of military personnel in the Bureau according to the Armed Forces Act; conduct and sponsor studies and researches in military industrial production and related fields of studies amongst others.”