Following the ease on the
lockdown measures on Monday, the Senate approved the N850bn loan request of the
President, Muhammadu Buhari.
This was disclosed by the Senate
President, Ahmad Lawan, who read the letter at the plenary on Tuesday, 28.
According to the letter, President Buhari seeks to raise
fresh loan of N850bn from the domestic market instead of the capital
international market to enable his government adequately finance projects in
the 2020 budget.
The Minister of Finance, Budget
and National Planning, Zainab Ahmed, has been directed to provide adequate
information that may be needed for the upper legislative chamber, over the new external
borrowing plan.
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