President Buhari ask Senate to approve fresh loan of N2.3 trillion ($6.18bn) for infrastructural projects

President Muhammadu Buhari seek approval of a Nigeria Senate for a fresh loan of N2.3 trillion ($6.18bn) external borrowing for Nigeria.

President Buhari said this in a letter read in the senate house by the senate leader, Ahmad Lawan, during the resumption of plenary on Tuesday

Buhari said the loan was to finance the 2021 budget deficit of N5.6trillion which he said will enable his administration to found critical infrastructural projects in health, education and other sectors.

This is coming barely a month after the Senate approved the sum of $1.5bn and €995 million external borrowings for the federal government.

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