Skip to content

Senate Approves Buhari’s $16 Billion, €1 Billion Loans Request

The Senate on Wednesday approved the sum of $16,230,077,718, €1,020,000,000 and a grant of $125,000,000 as foreign loans for the regime of the President, Major General Muhammadu Buhari (retd.), to fund its legacy projects.

The red chamber specifically approved the issuance of €500,000,000 from the Bank of Industries and €750,000,000 Eurobond in the International Capital Market.

It asked the President to forward the terms and conditions of the loan from the funding agencies to the National Assembly.

The Senate gave the approval following the consideration of the report of its Committee on Local and Foreign Debts, chaired by Senator Clifford Ordia.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: