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The Executive had requested extension of the lifespan of the Federal Government budget from December 31 to March 31, which the National Assembly approved in December 2022.
The Federal Government of Nigeria will be seeking another loan after its earlier request was rejected by China Bank, citing the country's inability to repay.
Nigeria's House of Representatives, on Tuesday, approved the Federal Government’s request to borrow $973,474,971.38 from China Development Bank.
Federal Government seeks $973.4 billion loan from China Development Bank after China-Exim Bank rejected loan of $22.8 billion. | Pulse Nigeria
The House of Representatives resolved to rescind its earlier resolution on the approved $22,798,446,773 under the 2016–2018 Medium Term External Borrowing plan