The President, Major General Muhammadu Buhari (retd.), has written to the House of Representatives request for the approval of fresh external borrowings amounting to $5.513bn.
Buhari, in the letter read by Speaker of the House of Representatives, Femi Gbajabiamila, at the plenary on Thursday, said the funds were for 2020 budget deficit, financing of critical projects, and some states of the federation.
The President also showed a revised 2020 Appropriation Bill and 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy booklet.
The National Assembly had recently approved a loan of N850bn for the Federal Government, while another of $22.79bn, which the Senate has already approved, is pending before the House of representative.
see tweet below:
Disclaimer: Comments and opinions on any part of this website are the opinions of blog commenters or anonymous individuals, and do not reflect Strenuous Blog position.