Senate Approves President Buhari’s N850 billion Fresh Loan

In a letter to the the National Assembly, President Muhammed Buhari has requested for a fresh loan of N850 billion to finance some 2020 budgets.

The letter which was read by the Senate President, Ahmed Lawan on Tuesday on the floor of the upper chamber of the National Assembly in Abuja met the approval of the Senate.

According to the letter, President Buhari seeks to raise the loan from the domestic capital market to ensure adequate funds to finance projects in the budget.After the letter was read, the lawmakers gave accelerated approval to the President’s request to raise the loan.