The House of Representatives has put on hold the deliberations on the $22.79 billion credit line request by President Muhammadu Buhari.
At the Wednesday plenary session, the lower arm of the parliament scheduled the report by its Committee on Aids, Loans and Debt Management on the 2016–2018 Federal Government External Borrowing (Rolling) Plan as the last item for consideration on the day’s order paper.
Speaker, Femi Gbajabiamila demanded the consideration be stood down by asking Abubakar Fulata, Chairman Rules and Business, to move for the standing down without mentioning when talks would resume.
Gbajabiamila had on Tuesday said the loan request would be discussed on Wednesday.
His assurance came in the wake of a petition spearheaded by Henry Nwawuba representing a posse of South East elite against the consideration and endorsement of the loan.
The highly controversial loan request had scaled the Senate approval hurdle last week amidst a fierce resistance from senators led Enyinnaya Abaribe, the Senate Minority Leader.
The borrowing aims to bankroll a number of projects among which are he Nigeria Electricity Transmission and Access Project ($364,000,000); Social Inclusion and Welfare Advancement project also known as National Social Safety Net Project, ($500,000) and the Economic Reforms and Governance Project known also as the Fiscal Governance Project ($200,000,000).