Buhari Seeks Approvals To borrow Another $5.513billion, Writes NASS

The National Assembly has received another letter from President
Muhammadu Buhari seeking approval of his decision to borrow another
$5.513bn.

The letter was read on the floor of the House by the Speaker, Femi
Gbajabiamila, at the plenary on Thursday.

Buhari said the funds were for 2020 budget deficit, financing of
critical projects, and some states of the federation.

The President also presented a revised 2020 Appropriation Bill and
2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper.

The National Assembly had recently approved a loan of N850bn for the
Federal Government, while another of $22.79bn, which the Senate has
already approved, is pending before the House.