Reps Okay Fresh $5.8bn Loan, $10m Grant For Fed Govt
The House of Representatives, on Tuesday, approved external borrowings totaling $5,803,364,553.50 and a grant of $10,000,000 for the Federal Government as part of the proposed 2018–2020 External Borrowing (Rolling) Plan No.3.
The approval followed the adoption...
Senate Approves Buhari’s N7.6trn External Borrowing Request
The Senate yesterday approved President Muhammadu Buhari’s request to borrow about N7.6 trillion comprising $16.2 billion and €1 billion (Euros) under the 2018-2020 External Borrowing (Rolling) plan, and a $125 million grant component.
It also approved the request to...
COVID-19 Makes External Borrowing Unattractive, Says Buhari
The Coronavirus pandemic and the decline in the international market price of oil, has made borrowing from the international capital market unattractive, President Muhammadu Buhari, has said.
As a consequence, Buhari said he was constrained to ask the House...
Minister of Finance, Mrs Kemi Adeosun, said inability of Federal Government to generate enough revenue to meet its obligation left it with no choice than to borrow to finance critical projects.
The minister said this in Abuja while speaking at the 14th Daily Trust Dialogue...
