I’m Surprised No Senator Challenged Key Points in Tinubu’s Speech – Akpabio

During Wednesday’s plenary session, Senate President Godswill Akpabio expressed his disappointment that senators did not raise critical points from President Bola Tinubu’s recent Independence Day address. The speech, delivered to mark Nigeria’s 64th anniversary, included significant mentions relevant to the Senate, which Akpabio expected to prompt discussion among lawmakers.

During the session, Akpabio remarked, “I was waiting for any of the senators to note the broadcast of Mr. President, but nobody has noted it. There was a very important item in that broadcast that concerned the Nigerian Senate.” He emphasized the importance of acknowledging the President’s address and proceeded to invite the senators to second his motion for a closed session, without elaborating on the specific issue he deemed significant.

In his Independence Day broadcast, President Tinubu announced that his administration has cleared the N30 trillion Ways and Means debt incurred by the previous administration under Muhammadu Buhari. The Ways and Means facility is utilized by the Central Bank of Nigeria (CBN) to finance federal budget shortfalls.

Tinubu also indicated plans to present a bill aimed at reducing the tax burden on Nigerian businesses and workers, although he did not provide specific details on the proposed changes.

The N30 trillion debt figure has sparked intense debate, particularly as it surpasses the approved budget of N28.7 trillion for the 2024 fiscal year. Critics have raised concerns about the lack of clarity regarding how the funds were sourced, given that the payment was not included in the budget or approved by the National Assembly.

In February, the Senate resolved to investigate the Ways and Means loan, scrutinizing its approval process and disbursement methods. An ad hoc committee, led by Senator Isah Jibrin from Kogi East, was established to address these issues, amid claims by Akpabio that this debt significantly contributed to the nation’s economic challenges.