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 This is the ninth time the Super Eagles will be involved in a…
THE naira has extended gains on Friday to end the week on a good note…
News Update THE Rivers State House of Assembly has rubbished an order by the state…
News Update Abubakar Abdullahi, the Imam of Nghar village, in Barkin Ladi Local Government Area…
News Update Muniru Raji’s recent fixation on the internal affairs of the All Progressives Congress…
News Update Police have arrested two Nigerian men in Pune for allegedly killing a compatriot…