rejected

Shehu

Sani: Why 8th Senate Rejected Buhari’s $30bn Loan Request

November 29, 2019 11:35 am

Chairman of the Senate committee on local and foreign debt in the 8th Senate. Shehu Sani, has given reasons why the 8th Senate turned down the federal government’s $30 billion loan request, stating that the rejection was to save Nigeria from sinking into the dark gully of a perpetual debt trap.

President Mohammadu Buhari had in a letter to the 8th Senate requested for the loan but the lawmakers rejected his request. On Thursday, the President sent a fresh letter to the 9th Senate seeking approval for the loan.

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Shehu …

Buhari’s Rejected $30 Billion Loan Resurfaces In Senate

November 28, 2019 8:58 am

President Muhammadu Buhari has formally written to the Senate to approve an undisclosed amount of foreign loan to the Federal Government.

The said $30 billion loan was rejected by the 8th Senate headed by Bukola Saraki.

The President of the Senate, Ahmad Lawan, read the loan request from President Buhari on the floor of the Senate on Thursday.

Read Also: NFF Queries Rohr Over Alleged Contract Breaches

 

The Senate rejected it in November 2016 in a bipartisan move. No reason was offered on why the loan request was rejected then.

According to the Debt Management Office (DMO), the total …

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