Senate considers President Buhari’s request of 5.5billion dollars loan

The Senate has considered the request by President Muhammadu Buhari to approve 5.5billion dollars external borrowings by the Federal Government to be used to finance the 2017 Appropriation Act.
Majority Leader, Senator Ahmad Lawan, presented the request to the Senate for consideration, which was unanimously granted by the lawmakers.
Deputy President of the Senate, Ike Ekweremadu, who presided over the plenary, referred the request to the Committee on Local and Foreign Debts, which was mandated to report back in two weeks.
Buhari had written to the Senate asking it to approve issuance of 2.5billion dollars to finance the 2017 Appropriation Act and 3billion dolars to re-finance domestic debts.

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