Politics House of Representatives give presidency go ahead on...

House of Representatives give presidency go ahead on Loan Request


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The house of representatives of Nigeria have given the go ahead to president Muhammed Buhari to borrow foreign Loan in the sum of $22.79bn.

According to the Federal Government, the loans are part of the 2016–2018 Federal Government External Borrowing (Rolling) Plan laid before the House on March 5, 2020, before the President’s fresh loan request of $5.5 billion on May 28, 2020.

The request for the Loan was initially turned down due to protest from members of the house of representatives from the south east for excluding the geopolitical zone from the project plan

The approval for the Loan request was given go ahead as the chairman of the house of representatives on Loan and debt management Ahmed Safana announced the inclusion of the portharcourt – maiduguri rail line in the project plan .

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