By Peterside Rejoice, Abuja
President Bola Ahmed Tinubu has written to the Senate seeking its approval for a new $2.3 billion external borrowing plan aimed at refinancing maturing Eurobonds and sovereign Sukuk debts. The request was contained in a letter read on the floor of the Senate during Tuesday’s plenary by Senate President Godswill Akpabio.
According to the President, the new borrowing would help the Federal Government manage its existing debt obligations more efficiently and strengthen the nation’s fiscal stability.
“In line with the provisions of Section 41(1) of the Fiscal Responsibility Act, 2007, and Sections 80 and 81 of the 1999 Constitution (as amended), I hereby seek the Senate’s consideration and resolution to implement a new external borrowing plan for the refinancing of maturing Eurobond and sovereign Sukuk to the tune of $2.3 billion.”
The President also transmitted several other correspondences to the National Assembly, seeking the confirmation of appointments into key federal agencies that have been without boards or substantive leadership since 2024.
In one of the letters, President Tinubu nominated Idris Olorunnimbe as Chairman of the Nigerian Communications Commission (NCC), with Dr Aminu Wada retaining his position as Executive Vice Chairman and Chief Executive Officer.
Other members of the NCC Board include Abraham Oshidami (Executive Commissioner, Technical Services), Rimini Makama (Executive Commissioner, Stakeholder Management), Hajia Maryam Bayi, Col. Abdulwahab Lawal (retd.), Senator Lekan Mustafa, Chris Okorie, and Princess Oforitsenere Emiko.
Onanuga, in a statement from the Presidency, explained that the nomination of the new NCC Board Chairman is part of the administration’s effort to reposition key communication and regulatory institutions for better service delivery.
In similar letters, President Tinubu also sought the Senate’s confirmation of Dr Musa Babayo as Chairman of the Federal Roads Maintenance Agency (FERMA), Dr Aminu Yusuf as Chairman of the National Population Commission (NPC), and Prof. Adeniran Raymond Tella as Resident Electoral Commissioner (Oyo State) for the Independent National Electoral Commission (INEC).
The nomination of Keji Onwu as Independent Director on the Board of the Nigeria Deposit Insurance Corporation (NDIC) was also forwarded to the Senate Committee on Banking, Insurance, and Other Financial Institutions for screening.
Two additional letters also sought the confirmation of nominees to the Federal Civil Service Commission (FCSC).
Senate President Akpabio, after reading the letters, referred all the nominations to the relevant committees for screening and report. The INEC Committee was given one week to conclude its assignment.
Observers have raised questions about how some of these critical agencies have operated since the dissolution of their governing boards in 2024, noting that several of the positions have remained vacant for over a year.
This development, analysts say, underscores the importance of the Senate’s constitutional responsibility to ensure that nominees are competent and suitable for their respective roles.
Under Section 147(2) of the 1999 Constitution (as amended), all presidential appointments into key federal positions must be confirmed by the Senate before assuming office.
With these new nominations, the focus now shifts to the upper chamber to determine, through its screening process, whether the President’s nominees are fit and capable of discharging the responsibilities attached to their offices.
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