Senate Declines Buhari’s Request To Borrow $30b
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The Nigerian Senate Tuesday declined to sanction President Muhammadu Buhari’s request to borrow about $30 billion.
The president had on October 26, 2016, forwarded the request to the National Assembly to approve external borrowing plan of $29.960 billion to execute key infrastructural projects across the country between 2016 and 2018.
He also requested for virement of N180.8 billion in the 2016 budget for provision of needed votes for some critical sectors across the 36 states of the federation and the FCT.
Buhari made the requests in two separate letters to the President of the Senate, Dr Bukola Saraki, and Speaker of the House of Representatives, Mr Yakubu Dogara, which were read on the floor of both chambers.
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