The NGRSenate on Tuesday approved President MBuhari’s $5.513 billion external loan request to finance the revised 2020 budget.
he Senate on Tuesday approved President Muhammadu Buhari’s $5.513 billion external loan request to finance the revised 2020 budget.
A lender for the Federal Government’s priority projects as approved by the Senate is the African Development Bank – $125million to strengthen healthcare system and improve response to COVID-19 and $23 million for financing smallholder farmers to mitigate food security impact of the COVID-19 pandemic.
The Senate approved the recommendation of the Senator Solomon Adeola-led Senate Committee on Finance that the price of crude oil put at $25 per barrel by the Federal Government, be increased to $28 per barrel. However, other critical parameters like the exchange rate of N360 to a US dollar, 14.43 inflation growth rate and 4.42 GDPgrowth rate were retained.
According to him, the price oil per barrel is now $38 with a very strong indication that the price will rise to $40 or $45 per barrel.
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.
BREAKING: Senate approves Buhari’s $5.513bn external loan requestThe senate on Tuesday approved President Muhammadu Buhari’s $5.513 billion external loan request to finance the revised 2020 budget...
Read more »
Senate approves FG’s $5.51bn external loan request – Daily TrustThe Senate has approved the $5.513bn external loan request by President Muhammadu Buhari.
Read more »
Senate fumes over high cost of oil production in NigeriaSenators on Monday kicked against the revelation by the management of the Nigeria National Petroleum Corporation ( NNPC), that the corporation makes a marginal $3 profit per barrel in oil production. They called on the federal government to get the nation's economy diversified as quickly as possible to avoid a total meltdown of the country.
Read more »
FCC: Abaribe Kicks as Senate Confirms Buhari's Nominees - THISDAYLIVEBy Deji Elumoye The Senate Minority Leader, Senator Enyinnaya Abaribe, on Tuesday kicked against the lopsided nominations into the board of the Federal Character Commission (FCC). This is just as the Senate confirmed the nomination of 37 out of 38 nominees forwarded to it by President Muhammadu Buhari as Chairman and members of the Commission. …
Read more »
N’Assembly Won’t Back Down On NDDC Probe – SenateN’Assembly Won’t Back Down On NDDC Probe – Senate
Read more »
Tension in Senate over reviewed 2020 Budget - The Nation NigeriaThe peace in the NGRSenate has been rocked by last week’s disagreement over the passage of the Revised Budget 2020 forwarded by NGRPresident MBuhari.
Read more »