The Nigerian Senate has approved the request of President Bola Tinubu to go for external loans totalling $6 billion.
The approval is coming barely four hours after the Senate President, Godswill Akpabio, read the letter from the President, seeking the approval.
The red chamber of the National Assembly approved the loans after the presentation and consideration of a report by the Senator Aliyu Wamakko-led Committee on Local and Foreign Debts.
MESSAGE us @ https://Wa.me/+2348072633727 / 08072633727 for business & brand promotion/relationship/partnership, Advert, PR, Publicity, Awareness, Interviews, Feature Stories, Press Release/Statement and any job related to Media…
It had been reported earlier that President Tinubu’s latest loan request was contained in two separate letters addressed to the President of the Senate, which were read during plenary on Tuesday.
In the first letter, Tinubu requested the approval to establish a structured total return swap (TRS) external financing programme of up to $5 billion with First Abu Dhabi Bank of the United Arab Emirates.
The President, in the second letter, also asked the Senate to approve a $1 billion UK export finance loan facility arranged by Citibank, London branch.
Voice Air Media NEWS CHANNEL @
https://whatsapp.com/channel/0029VaOyfbTF6smu2UTRUn1w
He said that the loan would be used for the reconstruction and rehabilitation of the Lagos Port Complex and Tin Can Island Port.
News Update THE Federal Road Safety Corps, FRSC, has appointed Mr Sunday Adebayo as the…
President Bola Tinubu on Monday approved the sum of N15 billion for the take-off of…
News Update On Monday, a woman identified as Oluwasola Victoria Adebayo, suddenly collapsed and died…
The Governor of Osun State, Ademola Adeleke, has expressed confidence that the ongoing remodelling of…
Students of Obafemi Awolowo University, Ile Ife, Osun State, have decried long queues and delays…
Retired personnel of the Nigeria Police Force and their families on Monday blocked a gate…