Radio Nigeria Progress FM
Governance News Society

Senate Approves Tinubu’s Request to Borrow Funds.

The Senate has approved President Bola Tinubu’s request to borrow $7.8billion and €100 million as part of the 2022- 2024 borrowing plan of the federal government.

The resolutions of the Senate followed its consideration and adoption of the report of its committee on Local and Foreign Debt during its special plenary.

Tinubu had said that the Federal Executive Council under former President Muhammadu Buhari approved the loan facility on May 15, 2023 to finance infrastructure, health, education, agriculture, insecurity and other sectors.

He further explained that the foreign loan has become necessary to bridge the financial gap and return the economic activities of the country to normalcy.

Related posts

Senate Passes New National Minimum Wage Bill

Progress 100.5 FM

Kaduna Bombing: 109 Senators donate one month salaries to survivors.

Progress 100.5 FM

Senate Unveils Another List of Ministerial Nominees

Progress 100.5 FM

GOV. OYEBANJI ALIGNS WITH APC ZONING DECISION ON SENATE PRESIDENCY

Progress 100.5 FM

Senate Confirms Seven Ministerial Nominees

Progress 100.5 FM

BREAKING: INEC Rejects Akpabio As APC Senatorial Candidate

Progress 100.5 FM