Reps approve Buhari’s $22.7bn loan request


The House of Representatives has approved President Muhammadu Buhari’s request to borrow $22.7 billion dollars.

The green chamber approved the request at Tuesday’s plenary after the lawmakers considered the report by the committee on aids, loans, and debt management.

When Buhari sent the request in 2019, he said the loan will be used to finance key infrastructures in the country.

Buhari first sent the loan request to the previous national assembly under Bukola Saraki but it was rejected.

Meanwhile, the Senate has passed the Medium Term Expenditure Framework and Fiscal Strategy Paper projections, which the revised 2020 budget would be predicated.

This followed the submission of the report of the Senate Committee on Finance, presented by the Chairman, Senator Solomon Adeola, at plenary.

Following this, the red chamber jerked up the oil benchmark from $25 dollars to $28 dollars, and also reduced the daily oil output from 1.9 million to 1.8 million barrels.

Aneta Felix

Aneta Felix is a seasoned broadcast journalist and versatile content producer with an interest in reporting on human and gender rights, insecurity, corruption, and development among others. She has over five years of progressive experience, working across online, radio, and TV platforms, reporting the Boko Haram insurgency in Adamawa state, covering elections across the country and interviewing CEOs of multi-million dollar companies. Aneta is also the producer and presenter of the business documentary program, Startups, on TV360 Nigeria. She is a graduate of International Studies and Diplomacy from the University of Benin and is based in Lagos Nigeria.

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