Just IN: Buhari seeks approval for $6.183b external loan

President Muhammadu Buhari: requests for over $6b external loan
President Muhammadu Buhari: requests for over $6b external loan

President Muhammadu Buhari has written the Senate to approve a new external loan of $6.183billion for the Federal Government to finance the 2021 budget deficit.

Senate President Ahmad Lawan read Buhari’s letter of request on the floor of the Senate at plenary on Tuesday.

The letter requests for a resolution of the National Assembly for the implementation of the external borrowing of $2.18 billion in the 2021 Appropriations Act, among others.

It also requests for the approval of Donor Funded Projects under the 2018-2020 Federal Government external borrowing rolling plan.

In Naira terms, the total loan request is N2,343,387,942,848.00.

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