BREAKING : Reps approve Buhari’s $22.7 billion loan proposal | CABLE REPORTERS
The House of RepresentativesToday approved President Muhammadu Buhari’s loan request of $22.7 billion in foreign loans.
The House approved the request after it considered the report of its committee on aids, loans, and debt management.
The Senate had earlier given its nod to the request in March. Lawmakers at the House of Representatives had earlier kicked against the bill, forcing debates to be suspended especially those of the south-east caucus who complained about the government’s failure to include projects in the region amongst those to be financed from the loan.
However, following debates that were accompanied by pleas from House Speaker Femi Gbajabiamila, the loan proposal has now been approved.
Last month, both Houses approved an ₦850 billion loan proposal from the president.
Mr. Buhari last week also wrote to both chambers, seeking the approval of another $5.513 billion foreign loans.
President Buhari had said in 2019 that the loan was intended to fund key infrastructure in the country.
CABLE REPORTERS
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