Pres. Buhari seeks NASS nod for fresh $5.5bn foreign loan

A request for a fresh external loan of $5.513 billion has been forwarded to the Nigerian House of Representatives for approval.

President Muhammadu Buhari’s letter to the lawmakers was read by the Speaker, Mr Femi Gbajabiamila, at the plenary on Thursday.

He said the funds would be used for the financing the 2020 budget deficit, critical projects, and others.

Buhari also forwarded a revised 2020 Appropriation Act and 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper to the House.PerSecondnews recalls that the National Assembly had recently approved a N850 billion loan for the Federal Government.

Another $22.79 billion already approved by the Senate is still before the House.

Written by Ajuma Edwina Ameh

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