$6.1bn External Loan Request approved by Senate

The Senate has approved the request of President Muhammadu Buhari to borrow N2.3 trillion (about $6.183 billion) to fund the deficit in the 2021 Appropriation Act.

The borrowing will be from multiple avenues, including multilateral and bilateral lenders, as well as the International Capital Market (ICM) via issuance of Eurobonds.

The Nation­al the Minister of Finance, Budget and National Planning, the Director General of the Debt Management Office and the Governor the Central Bank of Nigeria have been directed to submit a letter within 10 working days on the money raised.

 

Read more details at Daily Trust.

Contact us! SMS:08029976464 WhatsApp:08029976464 Email:inkubwa@gmail.com