President Muhammadu
Buhari has written the Senate, seeking approval for the 2016-2018 $30billion
External Borrowing Plan of the federal government.
We report that the plan was
rejected by the former Senate President Bukola Saraki-led 8th Senate for
undisclosed reasons.
However, on Thursday, the
President re-presented the borrowing plan to the ninth Senate in a letter read
by the Senate President, Ahmad Lawan during today’s plenary.
In the request letter, Mr.
Buhari informed the upper legislative chamber that the borrowed fund would be
used to fund 39 emergency projects in the power, agriculture, road and mining
sectors of the nation’s economy.
The president recalled that the
plan was approved by the Federal Executive Council, FEC, in August 2016 and was
first sent to the Senate in November 2016.
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