By Aaron Ossai
President Bola Tinubu has asked the House of Representatives to approve an N100.5bn promissory note programme to reimburse the Yobe State Government for the takeover of the Muhammadu Buhari International Airport in Damaturu.
The request was conveyed in a letter read by the Speaker of the House, Hon. Tajudeen Abbas, during plenary on Tuesday as lawmakers resumed legislative activities after their annual recess.
Under the proposal, the Federal Government plans to issue a promissory note through the Debt Management Office (DMO) to settle the amount approved as compensation for the airport, which was constructed by the Yobe State Government.
Tinubu said the Federal Executive Council (FEC), at an extraordinary meeting held on May 23, 2023, approved the Federal Government’s takeover of the airport and agreed that the state should be reimbursed through a promissory note arrangement.
In the letter, the President requested the House’s approval for the establishment of the programme to formalise the Federal Government’s financial obligation to Yobe State.
He disclosed that the Bureau of Public Procurement had reviewed the project and recommended N100, 509,017,255 as the amount payable to the state.
“In the light of the foregoing, I urge the House of Representatives to consider and approve the establishment and issuance by the Debt Management Office of a promissory note programme in the sum of N100, 509,017,255 for the reimbursement of the Yobe State Government for the takeover of Muhammadu Buhari International Airport, Damaturu,” the letter stated.
The proposed reimbursement is intended to compensate the state for the airport following its takeover by the Federal Government.
The request, however, requires the consideration and approval of the National Assembly before the proposed promissory note programme can proceed.
