Buhari writes Senate, seeks approval for fresh $5.5bn foreign loan

President Muhammadu Buhari has kept in touch with the National Assembly looking for endorsement for an advance demand of $6.5 billion.

Buhari’s allure was contained in a letter read on the floor of Upper Legistive Chamber by the President of the Senate, Senator Bukola Saraki, on Tuesday.

As per the letter, the President said the advances will be sourced through issuance of Euro and Diaspora securities and the acquiring will be utilized to support capital tasks.

Undertakings recorded by Buhari in the letter incorporate the development of Mabila control venture in Taraba State, development of second runway of Abuja Airport and other significant tasks the nation over.

The President additionally said piece of remote credits will be utilized to renegotiate nearby obligations.

Subtle elements later…

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