Politics Nigerian Senate Approves Buhari's Request To Get $5.5Bn Loan

Discussion in 'Political News' started by RemmyAlex, Nov 14, 2017. Views count: 815

  1. RemmyAlex

    RemmyAlex Social Member Curators

    Nigerian Senate on Tuesday approved a $5.5 billion external loan request by President Muhammadu Buhari.

    The president had in a letter on October 10 requested the Senate to approve $3 billion external loan and $2.5 billion Eurobond or Diaspora bond in the international market.

    Presenting report of the committee, Shehu Sani, Kaduna-APC, said the projects listed for the loan would stimulate economic development and create direct and indirect jobs for Nigerians.

    He added that the $2.5 billion will create more borrowing space for the private sector.

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