Admin l Tuesday, May 18, 2021
ABUJA, Nigeria – President Muhammadu Buhari has written to the leadership of the Nigerian Senate, seeking approval for the sum of N2.3 trillion to finance the 2021 budget.
The request by President Buhari is contained in a letter read on Tuesday at plenary by the President of In the letter read by President of the Senate, Senator Ahmad Lawan, Buhari said the the proposed loan which is equivalent of N2.3trn will be used to finance the 2021 budget deficit of N5.6trn.
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According to Buhari, the loan would enable the Federal Government fund critical infrastructural projects in transportation, health and education, among others.
The President is seeking this loan just about one month after the Senate approved the sum of $1.5bn and €995 million external borrowings for the federal government.