Reps Approve Buhari’s $22.79bn Foreign Loan Request.

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, on Tuesday explained why the lawmakers suspended the consideration of the loan request.
While presiding over Tuesday’s plenary, Gbajabiamila stated that the suspension was due to the protest by National Assembly members from the South-East over the exclusion of the geopolitical zone.
Chairman of the Committee on Loans and Debt Management, Ahmed Safana, presenting his report, notified the lawmakers that the Port Harcourt-Maiduguri rail line project had been inserted into the borrowing plan.
In its recommendation, the committee asked the Federal Government to source funding for the Port Harcourt-Maiduguri rail line in the next borrowing plan.
Below is the breakdown of the loans.
• World Bank – 2, 854, 000, 000
• African Development Bank – 1,888, 950, 000
• Islamic Development Bank – 110,000,000
• JICA – 200,000,000
• German Development Bank – 200,000,000
• China Eximbank – 17,065, 496,773
• AFD – 480,000,000
Total = 22, 798, 446, 773
Good budget
Okay but the money must be properly accounted for and not properly shared
good one
Is said to be good when used properly
Only if it is put to good use
Hmmm Nigeria everyday borrow borrow
Boro Boro mak me reach
Nawaooo
Who is going to pay back dis loan….
What sort of loans everywhere
Another loan?
Surprising
God will judge you
Criminal set of humans
Na wah
Its Amazing….
Ok
Okay
Can’t believe we are still borrowing with all the resourses we had
Not again ah ah
Really
I hope they will pay back
Nigeria my country
God save Nigeria