BUHARI SEEKS APPROVAL FOR 2.3TRILLION NAIRA EXTERNAL LOAN.

The President of Nigeria Mohammed Buhari seeks approval for a proposed extern loan of 2.3 trillion naira($16.18bn).

This is contained in a letter addressed to Senate President Ahmad Lawan. The proposed loan is to finance the 2021 budget deficit of 5.6trillion.

Collecting this loan will enable the federal government to fund critical infrastructural projects in transportation, health, education among others.

This is coming barely a month to $1.5bn and €995million loan in May 2020.

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