BREAKING: Buhari Seeks Fresh $5.513 Billion Loan For COVID-19 & Other Projects – Should Senate Approve The Loan?

Posted by E.L.E.X on May 28 2020 under News

The President also presented a revised 2020 Appropriation Bill and 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper.

President Muhammadu Buhari has written to the House of Representatives to request for the approval of fresh external borrowings totalling $5.513bn, The PUNCH reports.

Buhari, in the letter read by Speaker of the House of Representatives, Femi Gbajabiamila, at the plenary on Thursday, said the funds were for 2020 budget deficit, financing of critical projects, and some states of the federation.

The President also presented a revised 2020 Appropriation Bill and 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper.

The National Assembly had recently approved a loan of N850bn for the Federal Government, while another of $22.79bn, which the Senate has already approved, is pending before the House.

What Are Your Thoughts On This?

Drop your comments

YOU MAY ALSO LIKE

#SamuelPaty: Schoolgirl admits she lied about a teacher who was beheaded for showing students cartoons of the Prophet Muhammad

Vice Chancellor and students locked out as ASUU and NASU members protest in Lagos State University (photos)

Iraqs President, Barhem Saleh ‘denounces’ Iran missile strikes

Shoprite Nigeria condemns Xenophobia

UNBELIEVABLE!!! 40-year-old man who had been a pastor for 20 years, denounces Christianity and gives his reasons

Comments

Add Comment

All fields are required!