By George Omagbemi
ABUJA, Nigeria | October 14, 2026. President Bola Tinubu has asked the Senate to approve a ₦100.5 billion promissory note programme to reimburse the Yobe State Government for constructing the Muhammadu Buhari International Cargo Airport in Damaturu.
The request was conveyed in a letter read by Senate President Godswill Akpabio during plenary on Tuesday, October 13, following the National Assembly’s resumption from its annual recess.
In the letter, Tinubu explained that the Federal Executive Council (FEC), at its second extraordinary meeting on May 23, 2023, approved the federal takeover of the airport and reimbursement of the construction cost through a promissory note arrangement.
According to the President, the Bureau of Public Procurement (BPP) reviewed the project and recommended ₦100,509,017,234.55 as the amount payable to the state government.
The proposed arrangement would enable the Federal Government to settle the cost incurred by Yobe State before the airport’s takeover. The promissory note programme would be administered through the Debt Management Office (DMO).
Following the presentation of the request, the Senate referred it to the Committee on Local and Foreign Debts for scrutiny, with instructions to report back within one month.
The request is not yet an approved payment. It must undergo legislative consideration before the proposed reimbursement can proceed.
The development places renewed attention on the financial arrangements between federal and state governments when major infrastructure projects are transferred to federal control.
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