Buhari seeks approval to borrow $30bn from Nat Assembly

Buhari seeks approval to borrow $30bn from Nat Assembly

Ebun Francis

President Muhammadu Buhari has sent a letter to the two chambers of the National assembly asking them to approve his administration’s external borrowing plan of $29.960bn for the execution of key programmes and infrastructural projects across
the country. The request which was contained in two separate letters to the leaders of the two chambers of the National assembly were read to members during plenary today. The fund being requested for by President Buhari will cover projects from 2016 to 2018.

In addition to the above, President Buhari is also seeking legislative approval for the sum N180.8bn in the 2016 budget to cater for needed votes by some sectors of the economy.

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