x

Buhari Seeks National Assembly approval for fresh external loans of $4bn, €710m

President Muhammadu Buhari has requested the National Assembly to approve for it $4,054,476,863 and €710 million.

Buhari is also seeking the nation’s legislature’s approval for grant components of $125 million in the 2018-2020 external rolling borrowing plan.

This is contained in a letter addressed to both chambers of the National Assembly and read on the floor at the resumption of plenary by the presiding officers on Tuesday.

Part of the letter read, “I write on the above subject and submit the attached addendum to the proposed 2018-2020 external rolling borrowing plan for the consideration and concurrent approval of the senate for the same to become effective.

“The distinguished Senate President may recall that I submitted a request on 2018-2020 borrowing plan for the approval of the senate in May 2021.

“However, in view of other emerging needs and to ensure that all critical projects approved by Federal Executive Council as of June 2021 are incorporated, I hereby forward an addendum to the proposed borrowing plan.

“The projects listed in the external borrowing plan are to be financed through sovereign loans from the World Bank, French Development Agency, EXIM Bank and IFAD in the total sum of $4,054,476,863 and €710 million and grant components of $125 million.”

Hot this week

10 Key Takeaways from Tinubu’s 65th Independence Day Broadcast

President Bola Ahmed Tinubu, in his Independence Day address...

Emir of Zazzau Faces Two Defamation Suits Over Radio Interview

...Court to Hear Case November 4By Achadu Gabriel, KadunaThe...

Kaduna Human Rights Activist Arrested Over Alleged Kadpoly Land Racketeering

By Achadu Gabriel, KadunaA Kaduna-based human rights activist, Comrade...

Bird Invasion: Zulum Provides Food Relief to 18,000 Families in Dikwa, Disburses N350m to 35,000 Women

By Achadu Gabriel, KadunaBorno State Governor, Babagana Umara Zulum,...

Bishop Adegbite Names Fintiri as Most Pilgrim Friendly Governor

By Joyce Remi-BabayejuThe Executive Secretary of the Nigerian...

Clean Up Abuja: Wike Reiterates Commitment to Waste Management

By Joyce Remi-BabayejuThe FCT Minister, Barr. Nysome...

Good Road Network Attracting Investors to FCT – Wike

... Investors to Replicate Dubai City Walk in AbujaBy...

Emir of Zazzau Faces Two Defamation Suits Over Radio Interview

...Court to Hear Case November 4By Achadu Gabriel, KadunaThe...

Tinubu, Mutfwang, Akpabio, and Other Dignitaries Honour APC Chairman’s Mother at Jos Funeral

By Israel Adamu, JosPresident Bola Ahmed Tinubu, Plateau State...

How l became a consultant inside Kaduna Prison – Journalist Idibia

MY STORYBy Idibia GabrielIt is Interesting but hazardous to...

RCCG Pastor Urges Men to Embrace Physical Exercise for Greater Productivity

By Achadu Gabriel, KadunaThe Zonal Pastor of the Redeemed...

Related Articles

Popular Categories

spot_imgspot_img