The Nigerian Senate on Tuesday received an Executive communication from President Muhammadu Buhari asking the National Assembly to approve a request for the issuance of $2.786 billion Eurobond for partial financing of the country’s 2018 budget’s fiscal deficit.

The Senators who had been on recess since July 24 upon resumption Tuesday went into an Executive Session that lasted for 20 minutes from 11.05 am to 11.25 am during which they frankly discussed about recent developments in the Senate in particular and the National Assembly at large.

The Senators were said to have agreed to bury their differences and give peace a chance in the interest of the country, with all members giving fruitful contributions as it pertains to the future of the Eighth Senate as it goes into its last stage.

Also, the leader of the All Progressives Congress (APC) Senate Caucus, Senator Ahmad Lawan was said to have extracted a promise from the Senate President, Bukola Saraki, that national interest will continue to take precedent over any other consideration in the activities of the Senate.

The Senators were reported to have unanimously  agreed not to allow external forces and influence to cause disaffection, disturbance or crisis within the legislature.

After the Executive Session, Saraki read the Executive Communication from President Buhari from July to September which include that of the issuance of $2.786 billion Eurobond to finance the 2018 federal budget’s fiscal deficit.

In the letter dated July 23, President Buhari explained that he was requesting for the distinct and specific resolutions of the National Assembly for the $2.786 billion Eurobond in line with Sections 21(1) and 27(1) of the Debt Management Office (DMO).

In another letter, the president presented the ₦693.026 billion 2018 Statutory Budget Proposal of the Niger Delta Development Commission (NDDC) to the Senate for passage in line with the NDDC (Establishment) Act.

The 2018 budget proposed by President Buhari for NDDC is far less than the ₦729.016 billion budget approved by the Senate for the Commission in 2017.

Also in another letter, Buhari requested for the confirmation of the appointment of Olanipekun Olukoyede by the Senate as the Secretary of the Economic and Financial Crimes Commission (EFCC). He said Olukoyede’s nomination was in compliance with the provision of Section 2(3) of the EFCC Act 2010.

Other letters from President Buhari that were also read on the floor of the Senate by Saraki include Buhari’s declining assent to 10 bills namely Institute of Enterpreneurship (Establishment) Bill 2018, Stamp Duties(Amendment) Bill 2018, Electoral (Amendment) Bill 2018, Industrial Development (Income Tax Relief)(Amendment) Bill 2018 and The Advanced Fee Fraud And Other Related Offences (Amendment) Bill 2017.

Others are National Institute Of Hospitality and Tourism ( Establishment) Bill 2018, Nigerian Maritime Administration and Safety Agency (Amendment) Bill 2017, The Subsidiary Legislation ( Legislative Scrutiny) Bill 2018, Agricultural Seeds Council  Bill 2018 and National Research  and Innovation Council(Establishment) Bill 2017.

The Senators said they would study all the Bills that President Buhari refused to assent to with a view to analysing all the issues involved, adding that they have set up a technical committee to look into the reasons for the President’s refusal of assent to them.

Saraki also formally announced the death of a member of the House of Representatives, Hon. Funke Adedoyin and requested for a minute silence in her honour.

Senate Leader, Senator Ahmad Lawan subsequently raised a point of order stating that with Adedoyin’s demise and going by the tradition of the National Assembly, the Senate should suspend any further debate and therefore moved a motion for adjournment till Wednesday which was seconded by the Minority Leader, Senator Biodun Olujinmi.