President Buhari writes NASS, seeks for USD5.513 billion loan

President Muhammadu Buhari has written to the House of Representatives to request for the approval of fresh USD5.513 billion external loan to finance revised 2020 budget.

Speaker of the House of Representatives, Femi Gbajabiamila, while reading the letter forwarded by the President at the plenary on Thursday, noted that the funds were for 2020 budget deficit, financing of critical projects, and some states of the federation.

President Buhari also presented a revised 2020 Appropriation Bill and 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper.

Recall that the National Assembly recently approved a loan of N850bn for the Buhari-led government, while another of USD22.79bn, which the Senate has already approved, is pending before the House.

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