The Senate on Tuesday gave accelerated approval to President Muhammadu Buhari’s request to raise a fresh loan of 850 billion Naira from the domestic capital market to finance projects in the 2020 budget.
The Senate has mandated its committees on finance, appropriation, Domestic and Foreign Debt and National Planning to liaise with the Minister of Finance, Zainab Ahmed to get more details on the loan request.
The approval was given soon after the President of the Senate, Senator Ahmad Lawan read a letter from President Muhammadu Buhari, seeking for the approval to go for fresh loan of N850 Billion from the Domestic Capital Market.
President of the Senate, Senator Ahmad Lawan read the letter from President Buhari seeking the approval of the Senate to raise a fresh loan of 850 billion Naira from the domestic capital market to ensure adequate funds to finance projects in the 2020 budget.
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Earlier the Senators resumed plenary this morning after spending thirty- six days at home following the outbreak of the deadly Coronavirus( COVID-19) that is at the moment, ravaging the world on the nation.
Soon after the plenary commenced at 10 30am, the Senators went into a closed-door session ten minutes after.
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