Nigeria President Muhammadu Buhari has requested the approval of the Senate for the Federal Government’s 2016 and 2018 borrowing plan.
Buhari had first sought the approval of the House of Representatives for the borrowing plan in October 2016. It was however turned down by the Senate. Buhari explained that the total cost of the projects is $29.960billion, with a Projects and Programme loan of $11.274billion, Special National Infrastructure Projects of $10.686 billion, Euro Bonds of $4.5billion and Federal Government Budget Support of $3.5billion.
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