Nigeria: House agrees with Senate, approves $ 6.183 billion foreign loan request
Abuja – The House of Representatives has approved the federal government’s request for $ 6.183 billion (N2343 billion) in external borrowing in the 2021 Appropriation Act.
The approval follows the review and adoption of the clauses of the report presented by the Committee on Aid, Loans and Debt Management, chaired by
Hon. Ahmed Dayyabu Safana.
The House also approved the bill to establish a Defense Research and Development Office (DRDB) to conduct and coordinate sound research and development in the Nigerian armed forces.
The approval followed the consideration and adoption of the 5 parts and 34 sections of the bill’s report, presented by the Chairman of the House Defense Committee, the Hon. Babajimi Benson.
Introducing the report, Benson said the office’s objective is to conduct and coordinate strong research and development in the Armed Forces of Nigeria (AFN); coordinate the research and development efforts of the three services of the Nigerian Armed Forces; crystallize the results of scientific and technical research on defense goods and equipment for public and private institutions; provides scientific technical information to the armed forces of Nigeria and their allies, among others.
He said: “The functions of the Office are to enter into agreements, liaisons, memoranda of understanding, cooperation, partnership, etc. with institutions, agencies, companies, etc., as may be necessary from time to time or desirable, subject to the approval of the Board of Directors; be responsible for the discipline and well-being of its staff; deal with matters relating to the discipline of military personnel within the Office in accordance with the Law on the Armed Forces; to conduct and sponsor studies and research in the field of military industrial production and related fields of study among others. “