President Muhammadu Buhari has re-presented the 2016-2018 $30
billion External Borrowing Plan of the federal government to the
Senate for approval.
The plan, approved by the Federal Executive Council (FEC) in
August, 2016 and sent to the Senate in November 2016, was however
rejected by the eighth Senate.
The president has, therefore, re-presented the borrowing plan to
the ninth Senate for approval and a letter to that effect was on
Thursday read at plenary by the Senate President, Dr Ahmad
Lawan.
In the request letter, President Buhari informed the upper
legislative chamber that the borrowed fund will be used to fund 39
emergency projects in the power, agriculture, road and mining
sectors of the nation’s economy.
Details later…
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