Senate, World Bank seek end to states’ mismanagement of loans

Leadership of the Senate on Thursday met with officials of the World Bank on how to ensure proper utilisation of loans obtained by state government from the global lender. The Majority Leader of the Senate, Senator Ahmad Lawan, after emerging from the closed-door meeting, told journalists that the World Bank was interested in the judicious use of loans granted by it to the states.

Lawan was accompanied by the Chairman, Senate Committee on Local and Foreign Debts, Senator Shehu Sani; and Chairman, Senate Committee on States and Local Government Administration, Abdullahi Gumel.

He said, “This is a meeting to discuss with representatives of the World Bank on the best approach to granting loans to state governments and to ensure that there is fiscal discipline and success in the utilisation of such funds.

“The National Assembly participates in a limited way in granting states loans from international agencies, including the World Bank. Normally, the Federal Government guarantees certain loans to states.”

Photo Caption: Senate President Senator Bukola Saraki