The Presidency and National Assembly have reportedly reached a decision to allow the government take $1billion Euro bond.

The deal was reached during a meeting

between acting President Yemi Osinbajo, Senate President Bukola Saraki and the Speaker of the House of Representatives, Yakubu Dogara.

The request had been sent by President Muhammadu Buhari on the day legislators adjourned sitting rill February 21.

It was learnt that the letter was signed by Osinbajo.

Sources say lawmakers may be called from the break to consider and approve the $1billion bond request.

“The letter came after we have suspended plenary and after the meeting of the Senate President and the Speaker with the Acting President, they have resolved to reconvene in order to consider the President’s request,” a source close to the meeting said.

“Because of the public outcry and the rejection by the Senate, the Executive has dropped the idea of the $29.9billion loan,” he added.

Finance Minister Kemi Adeosun and her Budget and National Planning counterpart, Udoma Udoma were also at the meeting at the Presidential villa.

Adeosun told State House correspondents after the meeting that the “$1 billion Euro bond programme was part of the funding for 2016 budget and “we hope to be able to commence the process in January.”