Connect with us

Hi, what are you looking for?

National

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

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.

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.

This news content remains the copyright of TECHNOCRAT MEDIA, to republish, please seek the consent of our News Editor via editor@technocratmediang.com

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Follow Our Facebook Page

You May Also Like

Legislature

Michael Opeyemi Bamidele, leader of the Senate, has said the national assembly is working on the establishment of legal frameworks for state police in...

Politics

Natasha Akpoti-Uduaghan, Senator representing Kogi Central in the Senate, has confirmed an attack on her family's house in Kogi by gunmen.

Legislature

Both chambers of the National Assembly have approved President Bola Tinubu's request for a ‘State of Emergency’ in Rivers State.

Politics

On Thursday, the Senate suspended Senator Natasha Akpoti-Uduaghan of Kogi Central for six months during Thursday plenary presided by Godswill Akpabio, the senate president.

Legislature

The upper arm of the national assembly, the Senate, has passed the National Anthem Bill 2024.

Economy

The upper chamber of the National Assembly has released the details of sectoral allocations of the N27.5 trillion proposed budget for the 2024 fiscal...