
Senate Approves Fresh $1.5B, €995M loans For Buhari
The red chamber of Nigeria’s national assembly yesterday approved fresh external loans of $1.5bn and €995million for the Federal Government.
The Senate gave its approval for the foreign loans after considering the report of its committee on local and foreign debts during Wednesday’s plenary session.
The Chairman of the committee Clifford Ordia also explained to the lawmakers that the panel had considered the loan request and was recommending its approval.
The €995million loan is meant for agricultural mechanization across the 774 LGAs while the $1.5billion loan will be used to fund critical infrastructure in the aftermath of the COVID-19 pandemic …