There was mild drama on the floor of the Senate on Wednesday following submission of lawmakers over an alleged uneven allocation of loan to the six geo-political zones by the Development Bank of Nigeria (DBN) during Muhammadu Buhari’s administration.
A fresh motion by three Senators from the North namely: Ali Ndume (Borno South), Bomai Ibrahim Mohammed (Yobe South), and Ya’u Sahabi (APC, Zamfara North) to debate a bill titled, “Un-even Disbursement of Half a Trillion Naira loan to the six geo-political zones by the Development Bank of Nigeria,” was rejected by the lawmakers.
Ndume had reminded his colleagues that he sponsored a motion on the same bill in the 9th Senate to draw attention to lopsided distribution of the loan but the adhoc committee led by Senator representing Niger East, Sani Musa did not conclude its assignment.
The Borno lawmaker and two other colleagues noted that the Bank’s Annual Integrated Statutory Report 2021 obtained on 13 July, 2022, from the organization’s website showed that the bank disbursed a loan worth Four Hundred and Eighty Three Billion Naira (N483, 000, 000, 000) out of which only 11 percent went to the 19 states of Northern Nigeria, while 47 percent went to Lagos State alone.
Ndume had sought the permission of the Senate to present the bill afresh.
Senator representing Ogun West who represented Lagos West in the ninth Senate, Solomon Olamilekan Adeola, rose to counter Ali
Ndume.
Adeola, who was the Chairman of the Senate Committee on Finance in the 9th Senate, said the adhoc committee concluded its assignment, making recommendation after its investigation which was sent to the Presidency by the Ahmed Lawan-led ninth Senate.
Senator representing Nasarawa West, Aliu Ahmed Wadada who was shouting “Point of Order!” on top of his voice, however, stood up and spoke in defence of Senator Ndume.
Conforming himself with the observation on uneven distribution of the loan, Wadada said his senatorial district and the entire North was cheated in the distribution of the loan.
Before the Senate President could rule on the motion, Ndume was on his feet again.
He insisted that it was morally wrong that the whole North was given only 11 percent while only Lagos State got 47 percent of the loan adding that his state, Borno got only one percent.
Akpabio who quickly interrupted him, however, said the motion had to be stepped down for more consultation.
“Let me make it clear that the fact that the motion is stepped down does not mean it cannot be reintroduced,” Akpabio assured Ndume and co-sponsors of the bill.
Ndume and his co-sponsored noted that the DBN exists to alleviate financing constraints being faced by Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria through providing finance, partial credit guarantees, and technical assistance to eligible financial intermediaries on a market-conforming and fully financially sustainable basis.
