Senate rejects Buhari’s request for $29.6bn external borrowing

Posted by Mayowa Okekale, Abuja | 1 November 2016 | 1,903 times

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The Nigerian Senate has rejected President Muhammadu Buhari’s request for 29.9 billion dollars external loan.

The request was thrown out during Tuesday’s plenary when the Senate moved to deliberate on the 2016-2018 borrowing plan.

When the matter was put to vote by the President of the Senate, Bukola Saraki, the Senators overwhelmingly rejected it.

Buhari had said that the money would be used for infrastructure across the 36 states of the country but the loan met mounting criticism from across the country.

The Senate also considered the confirmation of the 46 non-career ambassadorial nominees sent recently by President Buhari. After a second voting process, the ‘Ayes’ had it.

•Photo shows the Senate in session.

Source: News Express

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