Another Debt For Nigeria As Buhari Seeks Fresh $5.513bn

President Muhammadu Buhari, has written to the House of Representatives requesting for the approval of another fresh external borrowings which total $5.513bn.


In the said letter read by Speaker of the House of Representatives, Hon. Femi Gbajabiamila, at the plenary on Thursday, The Speaker said the funds were needed urgently for 2020 budget deficit and the financing of critical projects, it also listed funds needed for some states of the federation.

It did not end there as the President also presented a revised 2020 Appropriation Bill and 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper.


Recall that the National Assembly had recently approved a loan of N850bn for the Federal Government, while another of $22.79bn, which the Senate has already approved, is still pending before the House waiting approval.

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