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…