Reps approve Buhari’s $5.8 billion loan request
The House of Representatives has approved President Muhammadu Buhari’s loan request of $5.8 billion.
The approval followed the adoption of the report of the House Committee on Aids, Loans and Debt Management on Tuesday in Abuja.
Presenting the report, Ahmed Safana, the committee chairman said the loan was part of the federal government’s 2018-2020 external borrowing plan.
He said the loan would be sourced from financial institutions like the World Bank, the Islamic Development Bank, China Exim bank, Chinese Africa Development Fund and International Fund for Agricultural Development.
“I hereby move that the house do consider final report of the Committee on Aids, Loans and Debt Management on the 2018–2020 External Borrowing (Rolling) Plan,” he said.
The House while approving the request, asked that the terms and conditions of the loan from the funding agencies be forwarded to the National Assembly for proper scrutiny.
(NAN)
More from Peoples Gazette
Politics
Buhari quietly replaces Lauretta Onochie as INEC national commissioner
Former INEC chairman Attahiru Jega had advised Mr Buhari to find another woman to replace Ms Onochie because she lacks credibility.
States
Bandits murdering Nigerians have no political, religious ideology: Tambuwal
”They do not consider ethnicity, religious or political party differences. They do not have any ideological or tribal pursuit,” asserted Mr Tambuwal.
Economy
Subsidy Removal: Sell Nigeria’s four refineries to investors, organised private sector advises Buhari regime
“The resuscitation of the four refineries that millions of dollars had been invested in…or outright sale of the refineries to private investors .”
Showbiz
Nigerian Army woos celebrities, influencers to play down insecurity
“We want to win you over to be on the same page with better understanding on issues of insecurity generally,” said the Chief of Defence Staff (CDS), Gen. Lucky Irabor.
Africa
Ghana didn’t mean to humiliate Nigerians with COVID-19 testing: Envoy
Ghanaian authorities “must ensure that visitors are treated with dignity, fairly, and humanely.”
Rights
Nnamdi Kanu enjoying luxury in our dungeon: SSS
“Nnamdi Kanu enjoys full luxury in the holding facility incomparable to any of its type anywhere in the country. He is accorded full rights and privileges.”
