Buhari Seeks Fresh $5.5bn Loan For COVID-19, Priority Projects
President Muhammadu Buhari on Thursday , seek the House of Representatives, approval for a fresh loan of $5.513 billion.
The house had in April given approval for the president to borrow N850 billion for the government.
In a letter read during Thursday’s plenary session by Femi Gbajabiamila, the speaker, Buhari said the funds will be used for the federal government’s priority projects and to support the response to the COVID-19 pandemic.
He also said part of it will be used to fund the revised 2020 budget, and to support the state governments.
The president also presented a revised 2020 Appropriation Bill and 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper.
Another loan of $22.79bn, which the Senate has already approved, is pending before the House
Comments are closed.