The House of Representatives has approved President Muhammadu Buhari’s loan request of $5.8 billion.
The approval followed the adoption of the report of the House Committee on Aids, Loans and Debt Management on Tuesday in Abuja.
Presenting the report, Rep. Ahmed Safana, the Chairman of the Committee said that the loan was part of the Federal Government’s 2018-2020 external borrowing plan.
He said that the loan would be sourced from financial institutions like the World Bank, the Islamic Development Bank, China Exim bank, Chinese Africa Development Fund and International Fund for Agricultural Development.
“I hereby move that the house do consider final report of the Committee on Aids, Loans and Debt Management on the 2018–2020 External Borrowing (Rolling) Plan,” he said.
The House while approving the request, asked that the terms and conditions of the loan from the funding agencies be forwarded to the National Assembly for proper scrutiny.
Global logistics provider CEVA Logistics and EFL Africa have launched a joint venture in Nigeria,…
Rachael Alamu, the principal of Community High School, Ahoro-Esinle in Oriire Local Government Area of…
Julius Berger Nigeria Plc has reported a strong financial performance for the 2025 financial year,…
The Economic and Financial Crimes Commission (EFCC) has arraigned two individuals and a company before…
At least 50 community elders sent to negotiate with bandits in Zamfara State have been…
Lagos State Governor, Babajide Sanwo-Olu, has intensified efforts to attract local and foreign investments, describing…
This website uses cookies.