President Muhammadu Buhari has written to the House of Representatives to request for the approval of fresh external borrowings totalling $5.513bn.
The President, in the letter read by Speaker of the House of Representatives, Femi Gbajabiamila, at the plenary on Thursday, said the funds were for 2020 budget deficit, financing of critical projects, and some states of the federation.
President Buhari also presented a revised 2020 Appropriation Bill and 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper.
The National Assembly had recently approved a loan of N850bn for the Federal Government, while another of $22.79bn, which the Senate has already approved, is pending before the House.
Soldiers invades Nnamdi Kanu’s home
Got a news tip?
If you have a story for our news team or firsthand information, pictures about a news story to pass to us, send it via WhatsApp +2348077609539 or email us at firstname.lastname@example.org
Click Banner To Get N100,000 Bonus Now!
When you register on 1xBet using this promo code asbnewsng, you can unlock a fantastic bonus offer of N100,000! Don't miss out on this exciting opportunity. Try it now!
Founder/editor-in-chief – ASB News. If you’d like to get in touch with me, feel free to follow any of my social links below.