President Buhari Queries Diversion Of Foreign Loans

Success is not really about the amount of money you have.Strippers  earn as much as 150,000 naira weekly exposing their naked bodies in clubs.Also, some politicians steal public funds,and leave their people to suffer.The list of ungodly means of making money are endless.Can we say people who make lots of money by ungodly means are successful?The likes of Bill Gates and Aliko Dangote can never be poor simply because they have a solution to some of human problems.Bill Gate helps solve the problem of information technology. .Dangote helps solve the problem of getting some basic needs like salt,cement,flour,steel,oil and gas and real estate.I think success is fulfilling your destiny on earth,and achieving your vision.A lot of rich people today are not successful.What is your own definition of success???

 

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Aug 10th 2015, 18:05

foreign loansPresident Muhammadu Buhari has called for an explanation from the Ministry of Finance on the foreign loans obtained for rail projects but diverted to other purposes.

Speaking at the end of a presentation on the Ministry of Transport by the Permanent Secretary, Mohammed Bashar at the Presidential Villa, Abuja, President Buhari said that it was disappointing to find that foreign loans obtained in line with signed agreements were moved from one project to another.

“I hope that due process was followed before such diversions were carried out. Taking money from one project to another has to be done properly,” the President warned.

According to Presidential Spokesperson, Garba Shehu, President Buhari was reacting to the specific instance of the diversion of a substantial part of the loan of USD1.005 billion from the Chinese Exim Bank, obtained for the construction of a standard gauge rail line linking Lagos to Kano but which was moved elsewhere.

The Permanent Secretary had informed the President that only USD 400 million of that loan remained with the Ministry of Finance.

The President regretted that government had, over the years, failed to meet its counterpart funding obligation on some projects, leading to such projects being left uncompleted or abandoned.

He added that there was a clear need to streamline, harmonize, and prioritize on-going projects in the transportation sector.

The Permanent Secretary of the Ministry also briefed the President on other challenges facing the transport and maritime sectors such as encroachment on railway land, lack of security on inland waterways and the confused nature of agreements between the Nigeria Ports Authority and ports concessionaires.

The post President Buhari Queries Diversion Of Foreign Loans appeared first on Channels Television.

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Revenge is a Poison meant for others, which we end up swallowing ourselves. Vengence is a Dark Light that blinds all who seek it. Don’t argue with Idiots.. They will bring you down to their level and beat you with experience.

Source : http://www.coolnsmart.com/wise_quotes/
Revenge is a Poison meant for others, which we end up swallowing ourselves. Vengence is a Dark Light that blinds all who seek it. Don’t argue with Idiots.. They will bring you down to their level and beat you with experience.

Source : http://www.coolnsmart.com/wise_quotes/

Wise saying ....Revenge is a Poison meant for others, which we end up swallowing ourselves. Vengence is a Dark Light that blinds all who seek it. Don’t argue with Idiots.. They will bring you down to their level and beat you with experience.                                                      unsubscribe from this feed,

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