BREAKING: Senate Approves $6.1B Fresh Loan Request
Faith Ukanwa
Jul 07, 2021
The Senate has given approval for a loan request of $6.1 billion made by President Muhammadu Buhari.
The president had in May, 2021 requested the National Assembly to consider and approve the loan which according to him, will be raised from multilateral and bilateral lenders as well as the international capital market.
The $6.1 billion which is about N2.343trillion was approved following the consideration of the report of the Senate Committee on Local and Foreign Debts at plenary.
READ ALSO: "Ikwuano Locked Down For Alex OttiÔÇØ - Monday Ubani SAN Sends Strong Message To Opposition
Presenting the report, Chairman of the committee, Senator Clifford Ordia said;
READ ALSO: BREAKING: Buhari Will Unveil Redesigned Naira Notes On Wednesday- Emefiele
"What we are about to pass is not a new borrowing, it has been approved in the 2021 budgetÔÇØ.
READ ALSO: How Strange fire gutted Secondary School in Akwa Ibom
Speaking after the approval, the Senate President, Ahmad Lawan, said;
READ ALSO: How a Catholic Priest Slumped and Died While Delivering Homily in Delta Church
"Let me thank the committee, this is not a new loan. This is a borrowing plan we have approved. What we have done is to provide the necessary resolutions for the implementation of it.
READ ALSO: 2nd #EndSARS Protest: Policemen, Soldiers Deployed To Lekki Toll gate |READ FULL
"Every cent counts. Our committees must be alive to oversee it. No frivolous expenditures should be entertained.ÔÇØ
Related Stories
Bloodbath At Wedding: Bandits Kill 13, Abduct Many In Midnight Attack In Kaduna Community
"Ikwuano Locked Down For Alex OttiÔÇØ - Monday Ubani SAN Sends Strong Message To Opposition
Mother's Day: Abia Government Liaison Officer Honours Women, Says Mothers Shape Future Leaders
Why ICPC Is Prosecuting Mike Ozekhome Over a London Property Deal That Has Shaken Nigeria's Legal Circle | READ DETAILS
Ofuji Ndị Igbo Sets 2026 Agenda, Promises Greater Community Engagement
How a Catholic Priest Slumped and Died While Delivering Homily in Delta Church
""
— Faith Ukanwa