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Just IN: Buhari seeks approval for $6.183b external loan

President Muhammadu Buhari
President Muhammadu Buhari

President Muhammadu Buhari has written the Senate to approve a new external loan of $6.183billion for the Federal Government to finance the 2021 budget deficit.

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

The letter requests for a resolution of the National Assembly for the implementation of the external borrowing of $2.18 billion in the 2021 Appropriations Act, among others.

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It also requests for the approval of Donor Funded Projects under the 2018-2020 Federal Government external borrowing rolling plan.

In Naira terms, the total loan request is N2,343,387,942,848.00.

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