buhari

BREAKING: Buhari writes Reps, demand another $5.513bn loan

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Nigeria’s president, president Muhammadu Buhari (retd.), has written to the House of Representatives demanding an approval of another $5.513bn loan.

President Buhari, in a letter presented to the House of Representatives at the plenary on Thursday, is requesting a fresh $5.513bn loan.

Reading the letter, the speaker, , Femi Gbajabiamila said the funds were for 2020 budget deficit, financing of critical projects, and some states of the federation.

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

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

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