The Senate on Thursday approved the $22.7 billion external loan request sent to it by President Muhammadu Buhari.
This was the outcome of the closed-door session of the upper chamber which lasted from 12.35pm to 1.30pm during which the report of the Senator Clifford Ordia-led committee on local and foreign loans which considered the 2016-2018 Federal Government External Borrowing (Rolling) Plan waa presented to the Senators.
The rolling plan contained the $22.7 billion loan request to fund some specific on-going projects across the country and was considered and approved at the Executive session of the Senate.
Senate President, Dr Ahmad Lawan, who spoke after the closed-door session, stated that the upper chamber will ensure that the approved loan was used specifically for the execution of the projects listed against the loan request.
More to come…
_____
Follow us on Twitter at @thesignalng
Copyright 2020 SIGNAL. Permission to use portions of this article is granted provided appropriate credits are given to www.signalng.com and other relevant source.
