Politics Senate Approves Buhari’s $5.5 Billion Foreign Loan Request

Discussion in 'Nigeria News & Politics' started by Jenero200, Nov 14, 2017.

  1. Jenero200

    Jenero200 GrandMaster Mod

    Joined:
    Mar 14, 2017
    Messages:
    3,682
    Likes Received:
    697
    Trophy Points:
    128
    The 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.

    Mr. Buhari explained that the bonds would be channelled towards funding the 2017 budget while the loan would be used in refinancing maturing domestic debts.

    Based on the Senate’s resolution, the Committee on Local and Foreign Debts on October 19 invited the Minister of Transportation, Rotimi Amaechi, and some other members of the executive to explain the benefits of the loan.

    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.

    {filename}-Senate Approves Buhari’s $5.5 Billion Foreign Loan Request
     
  2. Loading...

    Similar Threads - Senate Approves Buhari’s Forum Date
    Breaking News: Senate Approves Fund Transfer In 2016 Budget Nigeria News & Politics Nov 29, 2016
    Senate Seeks Improved Trade Relations With Finland Nigeria News & Politics Feb 10, 2018
    Tutorial 12 Facts You Ought To Know About The Senate Of Nigeria Nigeria News & Politics Feb 7, 2018
    Senate President, Bukola Saraki Owns £15m London Mansions - Transparency International Reveals Nigeria News & Politics Feb 5, 2018
    9ja Breaking News!!! Uniben Senate Rusticated The Sug President, Pro And Other Excos Nigeria News & Politics Feb 3, 2018

  3. Prezzy

    Prezzy Leader Protector

    Joined:
    May 24, 2016
    Messages:
    32,545
    Likes Received:
    10,901
    Trophy Points:
    1,143
    una try
     
  4. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

    Joined:
    Aug 28, 2016
    Messages:
    4,736
    Likes Received:
    2,474
    Trophy Points:
    1,143
    Lolz...carry go and dey deceive una
     
  5. Prezzy

    Prezzy Leader Protector

    Joined:
    May 24, 2016
    Messages:
    32,545
    Likes Received:
    10,901
    Trophy Points:
    1,143
    hmm. this one really vex you bro.
     

Share This Page