MoneyLawan Asks Senate Panel to Assess Buhari’s $4bn Loan Request Within One Week

ABUJA — Senate President, Ahmad Lawan, has said the senate committee on foreign and local debts should assess President Muhammadu Buhari’s $4 billion loan request within one week.

He gave the committee an ultimatum on Tuesday after he referred the president’s request to the committee for legislative action.

Last week, Lawan read out the president’s loan request which was written in a letter.

In the letter, Buhari said that the loan request was owing to the emerging needs of citizens, noting that there is a need to raise more funds for some critical projects.

“However, in view of other emerging needs and to ensure that all critical projects approved by FEC as of June 2021 are incorporated, I hereby forward an addendum to the proposed borrowing plan,” the president had said.

In the addendum to the 2018-2020 borrowing plan, Buhari is also seeking to borrow €710 million and obtain $125 million in grants.

Beloved John (Staff Writer)

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