JUST IN: Buhari asks Senate to approve fresh external loans

JUST IN: Buhari asks Senate to approve fresh external loans
Muhammadu BuhariWuzupNigeria

The President, Major General Muhammadu Buhari (retd) has asked the Senate to approve a fresh loan of $4,054,476, 863.00, Euro 710million and a grant of $125million.

The request is to finance critical projects in the 2021 budget.

Senate President Ahmad Lawan read the letter at plenary Tuesday after the chamber's two-month annual vacation.

Buhari said the request is an addendum to the proposed 2018 – 2021 Federal Government External Borrowing Rolling Plan approved by the National Assembly.

He said, “In view of other emerging needs and to ensure that all critical projects approved by FEC as at June 2021 are incorporated, I hereby forward an addendum to the proposed borrowing plan."

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