Home ENGLISH $5.5BN LOAN: Senate Begins Consideration Of Buhari’s Request

$5.5BN LOAN: Senate Begins Consideration Of Buhari’s Request

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The Senate has begun consideration of President Muhammadu Buhari’s request for the approval of an External loan of 5.5 billion dollars to enable the Federal government finance the 2017 budget as well as re- finance Domestic debts.

The move by the Senate to commence consideration of the External loan request followed Executive Communication by the Senate leader, Ahmad Lawan Thursday.

After the communication, Deputy Senate President, Ike Ekweremadu who presided over Thursday’s plenary session, referred the request to the Shehu Sani-led Senate Committee Foreign and Local Debts and report back in two weeks.

President Muhammadu Buhari had on Tuesday this week written to the Senate, asking for the approval of an External loan of 5.5 billion dollars to enable the Federal government finance the 2017 budget.

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