Buhari requests N’Assembly approval to borrow $6.9bn loan

by Azeez Adeniyi

President Muhammadu Buhari has asked for the approval of the National Assembly to borrow $6.9bn.

In a letter read by the Senate President, Bukola Saraki at plenary on Wednesday, Buhari said the money was for infrastructural development.

He said $5.8bn would be borrowed from the Chinese Exim bank for the repair of the railway transport sector.

He added that $1.1b would be taken from the World Bank for the North East geopolitical zone and social security program.
Details later…

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