Senate Approves President Buhari’s $16.2bn, €1.02bn Loan Request

In addition, he stated that €345,000,000 million euros is expected to be sourced from the French Development Agency ; €175,000,000 million euros from the European Investment Bank; $190,255,276 million USD from European ECA/KfW/IPEX/AFC; €500,000,000 euros from the International Capital Market; and $62,120,000 USD from Standard Chartered Bank/SINOCURE.

He expressed concern that the development constitutes a drain on the nation’s economy and limits resources available for national development. He disclosed that out of the sum of over $22.8 billion approved by the National Assembly under the 2016-2018 External Borrowing Plan, only $2.8 billion – an amount representing ten percent – has been disbursed to Nigeria.

You need money to make money. If we don't borrow we will be stagnant and being stagnant is declining

What will his children borrow?

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JUST IN: Senate approves Buhari's N7.6tr external loans - Daily TrustThe Senate Wednesday approved the federal government's request to borrow $16.2 billion...Borrowing (Rolling) plan, totalling N7.635 trillion. IMF and World Bank ought to have named Nigeria as 'Loan Nigeria state' no longer Nigeria.They keep borrowing and our welfare keep worse off. In fact, Who are they borrowing for?Masses or themselves?No roads,No electricity in spite of high increase in tariff,Increase in gas 😭😭 You need money to make money. If we don't borrow we will be stagnant and being stagnant is declining
Source: Daily Trust - 🏆 13. / 51 Read more »