Majority leader of the House of Representatives Femi Gbajabiamila says the lower legislative chamber will approve President Muhammadu Buhari’s request to borrow $29.9 billion (about N12 trillion) to fund capital projects between 2016 and 2019,

According to Premium Times Gbajabiamila said this in Lagos on Monday,

He said, “Borrowing to finance infrastructural projects is not an irresponsible act, Lagos State did same and the concomitant development is obvious.

“The House of Representatives will respond to Mr. President’s requests in the interest of Nigerians and quickly set the process in motion for its committees to carry out appropriate oversight functions on all project executing agencies until 2016 budget is fully implemented according to law.

“Our interest in attracting federal presence to our constituencies is same as Mr. President’s resolve to keep his campaign promises so Nigerians can be assured that both arms of government will work harmoniously to bring the country out of economic recession soon.”

On October 25 Buhari wrote to the National Assembly seeking approval to borrow $29.96 billion to finance the nation’s infrastructure development.