By President Muhammadu Buhari has asked the Senate to approve another 2.3 trillion naira (6.18 billion dollars) external loan.
The request was contained in a letter addressed to the Senate President, Ahmad Lawan, and read at plenary on Tuesday.
The President said the proposed loan is to finance the 2021 budget deficit of 5.6 trillion naira, to enable the Federal Government fund critical infrastructural projects in Transportation, Health, and Education among others.
This is coming barely a month after the Senate approved the sum of 1.5 billion dollars and 995 million euros external borrowings for the Federal Government.
The loans were part of the 5.5 billion dollars and 995 million euros external borrowings the President had, in May 2020, asked the Red Chamber to approve to finance various priority projects of the Federal Government and to support the State Governments facing fiscal challenges.
