Buhari seeks approval to borrow $29.96bn

President Muhammadu Buhari has sought an approval to borrow $29.960 billion for proposed projects across the country.

Buhari Writes National Assembly, Seeks Approval To Borrow $29.960b For Projects

In a letter read by the deputy Senate president, Ike Ekweremadu, the president demanded $11.274‎ for different programmes, $10.686 billion for special national infrastructure projects and Euro Bonds of $4.5 billion. The letter reads in parts: 

“I wish to refer to the above subject and to submit the attached draft of Federal Government 2016-2018 External (Rolling) Plan for consideration and early approval by the National Assembly to ensure prompt implementation of the projects. 

“The projects cut across all sectors with special emphasis on infrastructure, agriculture, health, education, water supply, growth and employment generation, poverty reduction through social safety net programmes and governance and financial management Reforms among others.” The upper chamber also took to twitter to share the news. Read below: