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BREAKING: Buhari set to borrow $6.18bn to fund country’s budget

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Damilola Adeyemo

ABUJA –Report says President Muhammadu Buhari has written the Nigerian Senate to seek for an approval to borrow a fresh N2.3 trillion ($6.18bn) external to fund the country’s 2021 budget.

The Senate President, Ahmad Lawan, read the President’s letters on the floor on Tuesday.

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In the letter, President Buhari said the proposed loan which is equivalent to N2.3trillion is to finance the 2021 budget deficit of N5.6 trillion.

He said said the loan would enable the Federal Government to fund critical infrastructural projects in transportation, health, and education among others.

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