House Of Reps Approve Buhari’s $22.7bn Loan

The House of Representatives has approved President Muhammadu Buhari’s request to borrow foreign loans to the sum of $22.79bn for the Federal Government. According to the Government, the loans are part of the 2016–2018 Federal Government External Borrowing (Rolling) Plan laid before the House on March 5, 2020, before the President’s fresh loan request of $5.5 billion on May 28, 2020. The Senate had approved the loan on March 6 but the House suspended its consideration of the request indefinitely. Almost two months later, Speaker of the House, Femi Gbajabiamila,…

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