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BREAKING News: President Buhari Writes Senate, Seeks Approval for $5.5b External Loan

Posted by Odinaka on Tue 10th Oct, 2017 - tori.ng

President Muhammadu Buhari has written the Nigerian Senate to seek approval for external loan to the tune of $5.5 billion.

President Muhammadu Buhari

In a letter read by the Senate President, Bukola Saraki, during the plenary session on Tuesday, President Muhammadu Buhari has written the Senate to seek approval for external loan to the tune of $5.5 billion.

The President explained that the fund will be channelled towards funding capital projects in the 2017 budget and refinancing maturing domestic debts.

... (I) to finance 2017 Appropriation (II) External borrowing to refinance domestic debt.
— The Nigerian Senate (@NGRSenate) October 10, 2017

This is a developing story, TORI News will being you more details later...