Just In: Buhari Seeks Another $5.513B Loan, Writes House of Representatives

President Muhammadu Buhari has again written to the House of Representatives, seeking the approval of the Green Chamber of the National Assembly to obtain a fresh loan in the tune of $5.513b.

The President, in a letter read by Speaker of the House of Representatives, Femi Gbajabiamila, at the plenary on Thursday, said the funds were for 2020 budget deficit, financing of critical projects, and some states of the federation.

Buhari also presented a revised 2020 Appropriation Bill and 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper.

Recall that the National Assembly had recently approved a loan of N850bn for the Federal Government, while the one of $22.79bn, which the Senate has already approved, is pending before the House.

Categories: News

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