Again, Buhari Seeks Approval Of $5.513bn New External Loan

Posted by African Examiner Featured, Latest Headlines, News, News Across Nigeria, News From The State Thursday, May 28th, 2020

(AFRICAN EXAMINER) – President Muhammadu Buhari has written to the House of Representatives, seeking its approval to obtain $5.513bn – new external loan.

The request was contained in Mr. President’s letter which was read Thursday by the Speaker, Mr. Femi Gbajabiamila, at the plenary.

According to the letter, the loan if obtained, were for 2020 budget deficit, to finance critical projects as well as some states of the Federation

Also in the letter, President presented a revised 2020 Appropriation Bill and 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper.

It will be recalled that the National Assembly (NASS) recently received and approved a loan request of N850bn, from President Buhari.

Similarly, a loan request of $22.79bn, already approved by the Senate has already is still pending before the House.

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