Tinubu Seeks Senate Approval For ₦100.5 Billion Yobe Airport Refund

President Bola Tinubu has asked the Senate to approve a ₦100.5 billion promissory note programme to reimburse the Yobe State Government for the construction of the Muhammadu Buhari International Cargo Airport in Damaturu.

The President is seeking approval for the Debt Management Office (DMO) to establish and issue the promissory note programme worth ₦100,509,017,234.55, Naija News reports.

Tinubu made the request in a letter addressed to the President of the Senate, urging lawmakers to consider it and grant approval for the payment.

According to the letter, the Federal Executive Council (FEC) approved the Federal Government’s takeover of the airport and the reimbursement of the project cost at its second extraordinary meeting held on May 23, 2023.

The Bureau of Public Procurement (BPP) also reviewed the project and cleared the recommended amount for reimbursement.

“In the light of the foregoing, I urge the Senate to consider and approve the establishment and issuance by the Debt Management Office of a promissory note programme in the sum of ₦100,509,017,234.55,” Tinubu wrote.

The President also urged the lawmakers to expedite consideration of the request.

The letter was read during plenary, after which the Senate referred the request to the relevant committee for further legislative scrutiny.

The proposed reimbursement is intended to settle the Federal Government’s financial obligation to Yobe State over the airport project.

The timing and implementation of the payment will depend on the outcome of the Senate’s consideration and approval of the request.