President Buhari seeks approval for N2.342 trillion new external loan

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President Muhammadu Buhari has urged the Senate to approve a new external loan of N2,343,387,942,848.00, about $6.183billion, for the Federal Government to finance the 2021 budget deficit.

Senate President Ahmad Lawan read Buhari’s letter of request on the floor of the Senate at plenary, on Tuesday, May 18.

Buhari said the proposed loan which is equivalent to N2.3trillion is to finance the 2021 budget deficit of N5.6 trillion. He said the loan would enable the Federal Government to fund critical infrastructural projects in transportation, health, and education among others.

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About Samuel Abasiekong 705 Articles
Samuel Abasiekong, Senior Journalist, Newspaper Publisher, Author of many literature text books, French-English, English-French languages Translator and Interpreter, Multi-sectoral Counsellor & Consultant, National Convener of National Public Interest Group - NPIG, Secretary Uyo Division of the Nigerian Red Cross Society, News Editor & Reporter @ 9News Nigeria www.9newsng.com www.facebook.com/9NewsNG

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