Buhari wants external borrowing plan rejected by 8th Assembly reviewed


President Muhammadu Buhari has sent a fresh request to lawmakers at the Nigeria Senate seeking approval for the 2016-2018 external borrowing plan.

The request read out by President of the ninth Assembly, Ahmed Lawan asked the National Assembly to consider and approve plans of the government to borrow money abroad to fund infrastructure plans.

The financial plan approved by the Federal Executive Council in August 2016 was earlier rejected by 8th Assembly in September 2016.

Buhari had asked the 8th Assembly to approve plans to borrow $30bn abroad to fund infrastructure plans from 2016 to 2018.

Meanwhile, Lawan failed to give details of the executive communication after reading the Presidents request, but there are reports that the external borrowing request sent in 2016, was the same thing contained in the latest request.

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