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Buhari Writes Senate, Seeks Approval to Borrow N2.10 Trillion

Kingsley Kanayo

President Muhammadu Buhari has sent a supplementary appropriation bill for the 2015 fiscal year to the Senate for approval.

President Buhari, in a letter conveying his request, which was read during plenary on Wednesday, November 18, 2015 by the Senate President, Bukola Saraki, asked the Senate to grant his request to borrow the sum of N2.10 trillion to finance the budget.

The President explained that the N882 billion loan earlier proposed by the past government to finance the budget had to be raised to N2.10 trillion, due to emerging realities in the country.

The loan, according to the president, would be sourced locally and internationally. 

 

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