BREAKING: President Buhari seeks approval for Fresh $5.513bn Foreign Loan For COVID-19, Other Projects

BREAKING: President Buhari seeks approval for Fresh $5.513bn Foreign Loan For COVID-19, Other Projects

President Muhammadu Buhari is seeking approval of his decision to borrow another $5.513bn and has sent a letter to the House of Representatives.

Buhari said the funds were for 2020 budget deficit, financing of critical projects, and some states of the federation.

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The letter was read on the floor of the House by the Speaker, Femi Gbajabiamila, at the plenary on Thursday.

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.

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