Senate approves $16.23bn loan for Buhari

 

The Senate on Wednesday gave President Muhammadu Buhari the approval to borrow $16,230,077,718, €1,020,000,000 and a grant component of $125,000,000, under the Federal Government’s 2018-2020 External Borrowing (Rolling) plan.

Senate’s approval was sequel to the consideration of the report of the Senate Committee on Local and Foreign Debts.

The report was presented by the Chairman of the Committee, Senator Clifford Ordia (PDP, Edo Central) during the plenary.

READ: Buhari asks Senate to approve $4bn, €710m external loan