President Bola Tinubu has asked the Senate to approve a ₦100.5bn promissory note programme to reimburse the Yobe State Government for constructing 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).
In the letter, the President said the Federal Executive Council, at its second extraordinary meeting held on 23 May 2023, approved the Federal Government’s takeover of the airport, which was constructed by the Yobe State Government.
He added that the council also approved the reimbursement of the construction cost through a promissory note programme.
According to the letter, the Bureau of Public Procurement had completed its review of the project and recommended ₦100.5bn as the amount to be paid to the state government.
Tinubu urged the lawmakers to expedite consideration of the request.
The Senate subsequently referred the proposal to the relevant committee for further legislative consideration.
The proposed reimbursement follows the Federal Government’s decision to take over the airport project and compensate Yobe State for the cost of its construction.
If approved by the Senate, the promissory note programme would provide the framework for settling the ₦100.5bn owed to the state government.
