Breaking: Buhari seeks approval new N2.342tr external loan

President Muhammadu Buhari has written the Senate to approve a new external loan of $6.183billion (N2,343,387,942,848.00) for the Federal Government to finance the 2021 budget deficit.

Senate President Ahmad Lawan read Buhari’s letter of request on the floor of the Senate at plenary on Tuesday

The letter requests for a resolution of the National Assembly for the implementation of the external borrowing of $2.18 billion in the 2021 Appropriations Act, among others.

It also requests for the approval of Donor Funded Projects under the 2018-2020 Federal Government external borrowing rolling plan.