President Bola Ahmed Tinubu has asked the Senate to approve a N100.5 billion promissory note programme to reimburse the Yobe State Government for the construction of the Muhammadu Buhari International Cargo Airport in Damaturu.
Tinubu made the request in a letter addressed to the President of the Senate, Godswill Akpabio, seeking legislative approval for the issuance of the promissory note through the Debt Management Office (DMO).
The President explained that the Federal Executive Council, at its second extraordinary meeting held on May 23, 2023, approved the Federal Government’s takeover of the airport project and the reimbursement of the construction cost to the state government.
According to the letter, the Bureau of Public Procurement (BPP) had completed its review of the project and recommended N100,509,017,234.55 as the amount to be reimbursed to Yobe State.
Tinubu urged the Senate to approve the establishment and issuance of the promissory note programme to facilitate payment of the amount owed to the state.
He also appealed to the lawmakers to expedite consideration of the request, expressing confidence in the Senate’s prompt action.
The request was subsequently referred to the relevant Senate committee for further legislative consideration.
The proposed reimbursement is expected to provide a framework for the Federal Government to settle the construction cost of the airport, subject to the Senate’s approval.
The Muhammadu Buhari International Cargo Airport is located in Damaturu, the Yobe State capital, and was constructed by the state government before the Federal Government approved its takeover and reimbursement arrangement.
