Reps approve Buhari’s $22.7b loan request

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Reps approve Buhari’s $22.7b loan request

The House of Representatives has approved the request of President Muhammadu Buhari to take $22.7 billion in foreign loan.

After due consideration of a report by the house committee on aids, loans and debt management on Tuesday June 2, the request was approved by the lawmakers.

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It can be recalled that this particular request was up for debate as some lawmakers from the South East were against granting the request. Their reason was that the Federal government has failed to include projects in the region among those to be financed from the loan.

In his reply, President Buhari said that the loan will be used to fund infrastructural development across the country, which sped up the approval of the request.

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