President Buhari writes Senate, requests fresh loan of $4bn and €710m

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President Muhammadu Buhari has written to the National Assembly, seeking approval to borrow the sum of $4,054,476,863 and €710 million.

The request was made known in a letter read by Senate President Ahmad Lawan at plenary on Tuesday.

In the letter titled Addendum to Request For Senate’s Concurrent Approval Of Multilateral Fund Projects Under the 2018-2021 Federal Government External Borrowing (Rolling) Plan, President Buhari explained that owing to “emerging needs”, there is a need to raise more funds for some “critical projects”.

Details later…

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