BREAKING: SENATE APPROVES BUHARI'S N850bn LOAN REQUEST
The Senate has given a quick approval for President Muhammadu Buhari to borrow N850 billion for the government.
Earlier, Buhari had requested the approval of a loan that will be sourced from the domestic market to finance projects and programmes in the 2020 budget.
The Senate who resumed plenary today, Tuesday 28th April amid lockdown order occasioned by the coronavirus pandemic, approved the request by the President.
The request by the President is contained in a letter read by the Senate President, Ahmed Lawan.
After the letter was read, the lawmakers speedingly approved President's request.
The President also noted that he had directed the Minister of Finance, Budget, and National Planning to make herself available to provide any additional information or clarification which the lawmakers may require.
The Senate Leader, Abdullahi Yahaya, thereafter, moved that the Senate suspends Rule One of the Senate Standing Order to enable quick response and decision on the President's request.