\n
President Bola Tinubu has urged the Senate to consider and approve his request to obtain a loan of $8,699,168,559 and \u20ac100 million as part of the federal government\u2019s 2022 \u2013 2024 external borrowing plan.<\/p>\n
Tinubu\u2019s letter of request was read in plenary by Senate President Godswill Akpabio on Tuesday.<\/p>\n
The president noted that the World Bank and African Development Bank had pledged interest to support the loan with $1 billion and N1.5 billion, respectively.<\/p>\n
According to the President, the loan will be used for infrastructure, agriculture, health, roads, security and employment.<\/p>\n
\u201cThe project cuts across all sectors, with specific emphasis on infrastructure, agriculture, health, water supply, roads, security, and employment generation as well as financial management reforms.<\/p>\n
\u201cConsequently, the required approval is for $8,699,168,559 and \u20ac100 million.<\/p>\n
\u201cI would like to underscore the fact that the projects and programmes in the borrowing plan were selected based on economic evaluations as well as the expected contribution to the country\u2019s social economic development, including employment generation and skills acquisition.<\/p>\n
\u201cGiven the nature of these facilities and the need to return the country to normalcy, it has become necessary for the Senate to consider and approve the 2022- 2024 external abridged borrowing plan to enable the government to deliver its responsibility to Nigerians.\u201d<\/p>\n
DAILY POST reported that Tinubu had written to the Senate about the 2024 budget presentation on Wednesday.<\/p>\n
Tinubu seeks Senate\u2019s approval for $8.69bn, \u20ac100m external loan<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
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