Senate demands sources of $22.6b loans, guarantee
It also demanded sovereign guarantee for the loans to ensure repayment.
“Some of the loans might be in cash or in terms of goods/ items. And contrary to insinuations, some states are going to benefit from these loans. The source added: “We know the implications of taking loans and we have insisted that we cannot be rubber stamped for approval. In fact, we have asked the Executive arm to defend every project which the credit will be used for.
When contacted, the Chairman of the Senate committee on Finance, Sen. Solomon Olamilekan Adeola, said: “The Senate has gone far in considering the President’s request. We have conducted public hearing for clarifications on what the loans are meant for.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
World Bank approves $22.2bn for 6 projects in Nigeria – Daily TrustThe World Bank yesterday approved six projects, worth $22.2 billion to support Nigeria’s development priorities in key areas of improving immunization and enabling a stronger business environment for the private sector. Others are, expanding the digital economy to promote job creation, and increasing public and private sector capacity on governance and social and environmental safeguards. …
Read more »
UPDATED: Senate confirms Capt Nuhu as DG NCAAThe Senate Tuesday confirmed the nomination of Captain Musa Shuaibu Nuhu for appointment as the Director General of the Nigerian Civil Aviation...
Read more »
Bill for Federal University of Medical Sciences Otukpo passes second reading in Senate - Daily Post NigeriaA bill for an act to establish a Federal University of Medical Sciences, Otukpo, Benue State on Tuesday passed second reading in the Senate. Sponsor of
Read more »
NCAA: Senate confirms Buhari's appointee, Nuhu as DG - Daily Post NigeriaThe Senate has confirmed the nomination of Captain Musa Shuaibu Nuhu for appointment as the Director General of the Nigerian Civil Aviation Authority
Read more »
Senate confirms Nuhu’s appointment as NCAA boss
Read more »