Nigerian Senate Approves Buhari’s $22.7bn Loan Request

The Nigerian Senate has approved President Muhammadu Buhari’s request to borrow $22.7 billion, TCPNews Reports

The upper legislative chamber okayed the request on Thursday amid objections from some senators.

While the matter was being debated, Enyinnaya Abaribe, minority leader and chieftain of the Peoples Democratic Party (PDP), Nigeria’s main opposition party, warned against considering all the recommendations on the loan at once.

The PDP Senator suggested that it should be done “item by item”, but Senate President Ahmad Lawan disagreed with him.

Subsequent debate on the matter forced the Nigerian Senate into an executive session during which it agreed to approve the request.

Recall that President Buhari sent the loan request to the senate in 2019 though it was rejected by the previous senate under Bukola Saraki.

 

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