The Senate, at its resumed session on Tuesday, gave President Muhammadu Buhari’s request, accelerated approval to secure a fresh loan of N850 billion to fund some projects in the 2020 budget.
In the request contained in a letter read by the President of the Senate, Ahmad Lawan, Buhari sought to raise the loan from domestic capital market, in order to finance the projects.
The lawmakers, having gave accelerated approval to the request, mandated the Senate Committees on Finance and Appropriation, to liaise with the Minister of Finance, Budget, and National Planning, Zainab Ahmed, for more details on the loan request.
Earlier at the resumed plenary, the President of the Senate, said the reason for the resumption of plenary amid the rising cases of COVID-19 in Nigeria, was to help sustain solutions to the health crisis and ensure the crisis does not create more problems for the government and its people.
