Senate approves Buhari’s request to borrow $5.5bn to finance next year’s budget

The senate has on Tuesday approved President Buhari’s $5.5 billion loan request which is expected to stimulate economic development.

Vanguard newspaper quoted Shehu Sani, Kaduna-APC who presented the report by the Senate Committee on Local and Foreign Debts of the committee, as saying the projects listed for the loan would stimulate economic development and create direct and indirect jobs for Nigerians.

He added that the $2.5 billion will create more borrowing space for the private sector.

Details later…

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