Interesting: Buhari writes Reps, seeks fresh $5.513bn loan

May 29, 2020 by Don Saint 1 Comment

President Buhari has written to the House of Representatives to request for the approval of fresh external borrowings totalling $5.513bn.

Buhari, 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.

The President 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.

– Punch

News

About Don Saint

PR Guru / Author / Promoter / Controversial Writer / Hip Hop Artiste / Actor / Human Rights Activist. The First Nigerian Hip Hop Artiste to obtain a Masters Degree (M.A) in Arts ( Religion & Human Relations). The author of one of the most controversial books in Nigeria; "Emancipation from Masturbation". With over 12 Movies and 3 Musical albums since 2003. Former Events Manager at Silverbird’s Rhythm Fm Awka Station till 2010. For more info. Call : 08033239298.

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One Response to “Interesting: Buhari writes Reps, seeks fresh $5.513bn loan”

Collins Reply June 3, 2020 at 13:21

A borrowing President. Nigeria is finished. Even after borrowing trillions and trillions, Nigerians are still in abject poverty.
Programmes and projects that will lead to massive looting are what our governments are passionately focusing on.
Feeding school children at home with almost N14 billion under lockdown. What a country with cursed leaders.