The Nigerian Senate has reportedly approved President Mohammadu Buhari’s new N850 billion loan request.
President Buhari made the request in a letter read by the Senate President, Ahmad Lawan, on Tuesday on the floor of the upper chamber of the National Assembly in Abuja.
According to the letter, President Buhari seeks to raise the loan from the domestic capital market to provide sufficient funds to finance projects in the budget.
After the letter was read, the lawmakers gave accelerated approval to the President’s request to raise the loan.
They also asked the Senate Committees on Finance and Appropriation to liaise with the Minister of Finance, Budget, and National Planning, Zainab Ahmed, to get more details on the loan request.
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