Senate rejects Buhari’s external borrowing plan

SENATE HOUSEfrom AUGUSTINE OSAYANDE in Abuja , Nigeria
ABUJA, (CAJ News) – THE Nigeria Senate has turned down a request by President Muhammadu Buhari for the external borrowing plan of vast amounts of foreign currency to execute key infrastructural projects across the
country between 2016 and 2018.

The consideration was listed under executive communication in the order paper presented to the legislative house on Tuesday.

When the Senate President, Bukola Saraki put the consideration of the request into voting, after it was introduced by the Senate Leader, Ali Ndume , senators rejected it.

There was a unanimous, loud shout of nay (No) as the legislators refused to consider the request.

Last week, Buhari forwarded a request to the National Assembly to approve external borrowing plan of $29,96 billion to execute key infrastructural
projects.

The president also requested for N180 billion ($570,97 million) in the 2016 budget for provision of needed votes for some critical sectors across the 36 states of the federation and the Federal Capital Territory.

CAJ News

Short URL: http://cajnewsafrica.com/?p=16215

Posted by on Nov 1 2016. Filed under Africa & World, Finance, Finance & Banking, National, Regional. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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