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Senate approves Buhari’s $1.5bn, €995m external loan requests On The Senate on Wednesday approved $1.5billion and €995million external loan requests From President Mohammadu Buhari. The approval was sequel to the consideration of the report of the Senate Committee on Local and Foreign Debts presented by its Chairman, Sen. Clifford Ordia (PDP-Edo) during plenary. The president had in May 2020 sent a letter to the senate seeking its approval for another batch of external loans to enable the administration finance the 2020 budget deficit, critical projects and support some states of the f...

Daily Post Nigeria Published The Senate, on Wednesday, approved the sum of $2.6 billion out of the $5.5 billion external borrowing request sent to the National Assembly by President Muhammadu Buhari in May last year. The approval came after the Upper Chamber considered a report by the Committee on Local and Foreign Debts during plenary. The approved sum, according to the Chairman of the Local and Foreign Debt Committee, Clifford Ordia, would see €995 million euros going to finance priority projects of the federal government, while $1.5 billion (USD) would be disbursed to the thirty-six stat...

Daily Post Nigeria Published As part of efforts toward sanitising the state’s natural resources sector, the Government of Osun State has warned mineral resources explorers who fall short of environmental standards in the state to henceforth comply with the government’s regulations or face legal action. Governor Adegboyega Oyetola disclosed this on Wednesday while inaugurating the Osun Mineral Resources and Environmental Management Committee in the state. Oyetola, who bemoaned the negative impacts of the activities of some players in the sector, charged the committee to work towards revers...

  The Senate has approved the sums of $1.5 billion and €995 million external loans for the Federal and State Governments. The Red Chambers gave the approval after considering the report of its Committee on Local and Foreign Debts on the external borrowing plan of the Federal Government. Chairman of the Committee, Clifford Ordia, told the lawmakers that the panel had considered the loan request and was recommending its approval. The €995m loan is meant for agricultural mechanisation across the 774 LGAs while the $1.5 billion loan will be used to fund critical infrastructure in the afterma...

April 21, 2021 By Ignatius Okorocha The Senate on Wednesday at plenary gave approval to the federal government for external borrowing to finance federal and state governments priority projects in the revised 2020 budgets. The approval was contained in the report of the committee of the Upper Chamber on Local And Foreign Debts is part of measures aimed at addressing the impact of the Covid-19 Pandemic and to improve on the country’s food security. The President, Muhammadu Buhari, in a letter dated 19 May, 2020, asked the Senate to approve for borrowing, the sum of Five Billion, Five Hundred ...