2020 budget: Senate approves Buhari’s N850bn loan request

The Senate has resolved to give accelerated approval to President Muhammadu Buhari’s request to raise a fresh loan of N850 bn from the domestic capital market to fund projects in the 2020 budget.

The request was contained in a Presidential memo read by the Senate President, Ahmad Lawan on the floor of the Senate.

The upper chamber also mandated it’s Finance and Appropriation Committees to liaise with the Finance Minister to obtain more details of the loan request.

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