Senate Grants President Buhari’s Request To Borrow N850bn

The Nigerian senate has granted Buhari’s request to borrow N850 billion to fund some projects in the country.

Senate Grants President Buhari’s Request To Borrow N850bn
Muhamadu Buhari and Ahmad Lawan

The Senate has granted President Muhammadu Buhari’s request to borrow N850 billion to fund part of Nigeria’s 2020 budget.

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Senate President, Ahmad Lawan, had earlier read a letter from the president requesting the upper legislative chamber to approve the loan request.

Buhari had said the loan would be sourced from the domestic capital market and used to fund projects in the 2020 budget.

The president said he had directed the Minister of Finance, Budget and National Planning, Zainab Ahmed, to furnish the Senate with any further information.

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Meanwhile, the Red Chamber had just resumed plenary on Tuesday after several weeks of shutting down due to the outbreak of Coronavirus in the country.

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