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2017 Budget: Presidency seeks Senate’s approval of $5.5bn foreign loanloan

10/10/2017 01:30:00 pm
~Order paper



The Presidency has sought the approval of the Senate for $5.5 billion external foreign loan for implementation of the 2017 budget.

The breakdown of the loan is a $3 billion Euro bond in the international capital market; and $2.5 billion for financing 2017 appropriation act.
2017 appropriation act.

This was revealed in a letter read by the president of the senate, Bukola Saraki on Tuesday on the floor of the red chamber In the letter, President Muhammadu Buhari noted that there is a deficit of 2.356 trillion already in the 2017 appropriation act.

More details later

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