BREAKING: Reps okay Buhari’s $22.7billion loan, as Southeast, Northeast lament exclusion
The House of Representatives has approved President Muhammadu Buhari’s request to borrow $22.7billion from external sources.
It would be recalled that the report was slated for consideration earlier in February, however, the Southeast protested the composition of the projects, alleging exclusion of the Southeast. “I know there has been a lot of agitation about South-east not benefiting from the loan. It is one of the reasons we haven’t considered the loan in the House. I’ve discussed with the Finance Minister and the DG Budget,” the statement read.
The total loan approved by the House is $22,798,446,773 and to be sourced from the following: World bank; 2,854,000,000, Africa Development Bank: 1,888,950,000, Islamic Development Bank ; 110,000,000, German Development Bank; 200,000,000, China Eximbank; 17,065,496,773, AFD; 480,000,000.
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