By Ishaya Ibrahim, News Editor
The Senate resumed plenary on Tuesday after a nine-week recess to be confronted with a fresh loan request of $4,054,476, 863.00, Euro 710 million and a grant of $125 million to finance critical projects in the 2021 budget from President Muhammadu Buhari.
The upper chamber of the National Assembly went on their annual recess after plenary on Thursday, July 15.
Announcing the suspension of plenary on the day after deliberations which lasted over six hours, the Senate President, Ahmad Lawan, said the lawmakers will resume on September 14.
On resumption today, President Buhari urged them to approve more loans.
Buhari’s request was contained in his letter read by Lawan at plenary.
According to the President, the request is an addendum to the proposed 2018 – 2021 Federal Government External Borrowing Rolling Plan earlier approved by the National Assembly.
He said that the projects listed in the addendum to the 2018 – 2021 Federal Government External Borrowing Rolling Plan are to be financed through sovereign loans from the World Bank, French Development Agency, China Exim Bank, International Fund for Agricultural Development (IFAD) and Credit Swiss Group, among others.
“In view of other emerging needs and to ensure that all critical projects approved by FEC as at June 2021 are incorporated, I hereby forward an addendum to the proposed borrowing plan,” Buhari said.
