September 25, 2014 – Nigeria’s Senate has finally approved request by President Goodluck Jonathan to borrow about $1 billion dollars to acquire state-of-the-arts military hardware and for training of military personnel.
Boko Haram: Senate Approves Jonathan’s Request for $1bn Loan
The approval came just as Chairman Senate Committee on Finance, Ahmad Makarfi told the Senate that the facility was not a cash loan but supply of military hardware to be paid over seven years.
According to him, there was urgent need to restore normalcy in the country and that since the loan did not attract interest, Nigeria should take advantage of the opportunity.
“The 12 nos. M135 Helicopters being requested for now are appropriate for the nature of the operation and the terrain.
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“Belarus has accepted to give helicopters on the condition of installment payment over a seven-year period. Other hardware, armament and equipment will be bought on the same terms from other European countries,” he said.
He said that his committee discovered that the number of helicopters in the fleet of the Nigeria Air Force was inadequate for effective deployment.
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