Again, Buhari seeks NASS approval to borrow $4B, €710M

Nigeria, in spite of the overwhelming debt profile which has stifled the perspects of the country’s currency, President Buhari has again written to the National Assembly for an approval to borrow the sum of $4,054,476,863 and €710 million.

The request was contained in a letter sent to the Senate which was read by the Senate President Ahmad Lawan at plenary on Tuesday.

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