President Muhammadu Buhari has asked the Nigerian Senate to approve an external loan of 2.18 billion dollars.
The president’s request was contained in a letter read by the Senate president, Ahmed Lawan, during plenary on Tuesday, May 18.
The Nigerian Senate disclosed on its Twitter account that the loan was demanded by the federal government to finance the 2021 budget deficit.
The federal government said it would use the loan to fund critical infrastructural projects in transportation, health, and education.
Meanwhile, the federal government’s move to borrow more money from external sources has certainly raised eyebrows among Nigerians. Wale Olusi, the head of research at United Capital Plc said increased loans by the federal government will affect the country’s debt profile.
He said such actions will create more burden. on the Nigerian economy.
EDITORIAL NOTE: We wish to add you to our WhatsApp Database to get our trending and latest news directly into your WhatsApp Private Box as the news breaks.
Kindly CONTACT US ON 08072633727 📲 whatsApp 📞Also, For your Advert Placement, Media & Publicity, Press Release, Personality Promotion, Special Report, Conference, Interviews, And So On
©VAM News – THE NEWS YOU NEED.
News Update THE Governorship Candidate of the All Progressives Congress (APC) in the forthcoming governorship…
Hopecentre International Foundation has celebrated a decade of transformative progress towards advancing the service to…
... Sympathises with Victims of Osogbo Rainstorms The Gubernatorial Candidate of the All Progressives Congress,…
News Update THE Senior Special Assistant to the President on National Assembly Matters, Hon. Ibrahim…
Dr Kayode Fayemi, immediate past Governor of Ekiti State and former Chairman of the Nigerian…
The Small Alhaji Media Team has observed with utter amusement the flood of reactions and…