One Year Anniversary: We’ve approved $28bn Loan for the Executive – Lawan vanguardnews
Says Senate ensures the tracking, monitoring, and supervision of how the loans are applied.Says a good Working Relationship, desirable for developmentABUJA – PRESIDENT of the Senate, Senator Ahmad Lawan disclosed on Thursday that the 9th Senate in its one year of coming on board has approved foreign loans of about $28 billion in the last one year for the Executive arm of government.
Lawan who noted that a good Working relationship was desirable for the development and growth of the country, said that in the year under review, 450 bills were introduced. “Both the Ninth Senate, indeed the Ninth National Assembly and the Executive arm of government have decided to collaborate and partner for a harmonious working relationship. Today, there is a very good relationship, based on mutual respect, consultation, cooperation, collaboration, and partnership. There is no doubt that this has proven to be beneficial to the people we represent.
“The low revenues from crude exports also means that there is a need to explore other sources of funding the Budget, hence the resort to foreign borrowing from bilateral and multilateral sources.
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