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Senate begins process for approval of Buhari’s $30b loan request


The Senate yesterday commenced the process for the approval of President Muhammadu Buhari’s request for $29.9b as part of 2016-2018 External Borrowing Plan as it referred it to its Committee on Local and Foreign Debts.

It was forwarded to the committee for further legislative work following its presentation by Senate Leader, Yahaya Abdullahi at plenary.

The committee has Clifford Odia (PDP, Edo Central) as Chairman and Bima Mohammed Enagi (APC, Niger South) as Vice Chairman.
President Buhari had in a letter dated November 26, 2019, said the Eighth National Assembly approved only a part of the External Borrowing request forwarded to it in September 2016.He explained that it stalled government’s implementation of critical projects in the mining, power, health, agricultural, water and educational sectors.


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