The President, Major General
Muhammadu Buhari (retd.), has asked the Senate to approve another N2.3trillion
($6.18bn) external loan.
This is contained in a letter
addressed to the Senate President, Ahmad Lawan, and read at plenary on Tuesday.
Buhari said the loan would
enable the Federal Government to fund critical infrastructural projects in
transportation, health, and education among others.
This is coming barely a month
after the Senate approved the sum of $1.5bn and €995 million external
borrowings for the Federal Government.
The loans were part of the $5.5
billion and €995 million external borrowings Buhari had, in May 2020, asked the
Red Chamber to approve to finance various priority projects of the federal
government and to support the state governments facing fiscal challenges.
Source: punchng.com
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