Reps approves President Buhari’s request on $22.7bn loan

Reps approves President Buhari’s request on $22.7bn loan

President Muhammadu Buhari’s request to borrow $22.7 billion has been approved by the house of representatives on Tuesday.

The reps approved the request during a plenary session after it considered the report of its committee on aids, loans and debt management.

Buhari said the loan will be used to finance key infrastructures in the country.

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But some lawmakers particularly those in the south-east kicked against the move, alleging that the region was excluded in the loan’s implementation plan.

The criticisms had led to suspension of the loan approval which has now been debated and passed after much plea from Femi Gbajabiamila, the speaker.

more to come


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