Here is the reason the President gave for all Nigerians to support and approve the $6.18 billion fresh external loan through their representatives at the Upper legislative chamber.
Nigeria’s President Muhammadu Buhari has written the Senate, seeking the approval to go for $6,18 billion fresh external loan.
The request by President Buhari is contained in a letter read on Tuesday at plenary by the President of the Senate, Senator Ahmad Lawan.
According to Buhari, the proposed loan which is equivalent of N2.3trn is to finance the 2021 budget deficit of N5.6trn.
He explained that the loan would enable the Federal Government fund critical infrastructural projects in transportation, health and education,m among others.
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