JUST IN: President Buhari Seeks Senate Approval To Borrow N2.10 Trillion
President Muhammadu Buhari has sent a supplementary appropriation bill for the 2015 fiscal year to the Senate for approval.
The president, in a letter conveying his request, which was read during plenary on Wednesday, November 18, 2015 by the Senate President, Bukola Saraki, asked the Senate to grant his request to borrow the sum of N2.10 trillion to finance the budget.
He explained that the N882 billion loan earlier proposed by the past government to finance the budget had to be raised to N2.10 trillion, due to emerging realities in the country.
The source of the loan, according to the president, would be from both local and foreign.
More details to come.