Nigeria Ruler Buhari Writes To National Assembly, Seeks Approval For New $5.513 Billion Loan

by on May 28, 2020

Nigeria Ruler Muhammadu Buhari has written to the National Assembly to seek approval for a new loan of 5.513 billion dollars.

The Speaker of the House of Representatives Femi Gbajabiamila at the plenary on Thursday read the letter from the president , stating that the loan was to finance the 2020 budget deficit , finance critical projects and supporting some states of the federation.

A similar letter was also addressed to the house of senate and read by the speaker Ahmad Lawan during the Thursday plenary.

A revised 2020 appropriation bill and the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy paper was also presented by President Buhari to both the House of Representatives and Senate.

More details later…

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