The Senate has approved President Muhammadu Buhari request for a fresh ₦850bn loan.
The request was made in a letter read by the Senate President, Ahmed Lawan, during plenary on Tuesday.
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According to the letter, President Buhari seeks to raise the loan from the domestic capital market to ensure adequate funds to finance projects in the budget.
After the letter was read, the lawmakers gave accelerated approval to the President’s request to raise the loan.
They also asked the Senate Committees on Finance and Appropriation to liaise with the Minister of Finance, Budget, and National Planning, Zainab Ahmed, to get more details on the loan request.
More details to follow….
