Senate approves Buhari’s $2.6bn foreign loan request
805740 by Horlamidey 3 weeks ago / 51
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The Senate, on Wednesday, approved the sum of $2.6 billion out of the $5.5 billion external borrowing request sent to the National Assembly by President Muhammadu Buhari in May last year.

The approval came after the Upper Chamber considered a report by the Committee on Local and Foreign Debts during plenary.

The approved sum, according to the Chairman of the Local and Foreign Debt Committee, Clifford Ordia, would see €995 million euros going to finance priority projects of the federal government, while $1.5 billion (USD) would be disbursed to the thirty-six state governments to finance critical projects.

 

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