BREAKING: Senate Approves Buhari’s $16.2 Billion And €1 Billion Loan Request

BREAKING: Senate Approves Buhari’s $16.2 Billion And €1 Billion Loan Request

By Ekemini Ekwere | News Reporter on November 10, 2021
Ahmad Lawan, the president of the Senate and President Muhammadu Buhari

The Nigeria Senate has approved President Muhammadu Buhari’s loan request to the tune of $16,230,077,718, €1,020,000,000 and a grant component of $125,000,000.00 under the 2018-2020 External Borrowing (Rolling) plan” for the Federal Government.

The Senate approved the loan request on Wednesday, November 9, 2021, after the consideration of the report of the Senate Committee on Local and Foreign Debts.

The report was presented by the Chairman of the Committee, Senator Clifford Ordia, PDP, Edo Central during the plenary.

The recommendation of the Committee said; “That the Senate does approve the under listed ongoing negotiation of external borrowing in the sum of $16,230,077,718,  €1,020,000,000.00 and a grant component of $125,000,000.00 under the 2018-2020 External Borrowing (Rolling) Plan” was approved by Senators when it was put to a voice vote by Senate President Ahmad Lawan at plenary.”

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