President Muhammadu Buhari has written the Senate, asking for approval for a $6.18bn external loan.
The request is contained in a letter read on Tuesday at plenary by the President of the Senate, Senator Ahmad Lawan. According to the President, the proposed loan which is equivalent of N2.3tn is to finance the 2021 budget deficit of N5.6tn.
He explained that the loan would enable the Federal Government fund critical infrastructural projects in transportation, health and education, among others.
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