President Buhari To Make Fresh Request To Senate For $29bn Loan

President Muhammadu Buhari will re-present a detailed request to the Nigerian Senate to borrow $29 billion to finance its 2016 budget.

The President’s first request was rejected by the Senate for failing to provide sufficient details and now a Presidential spokesman has confirmed the documents showing a breakdown of how the loan will be used is now ready.

Mr Femi Adesina said  “You notice that what the Senate said was that it needed more details about that bid for loan. It was not that it rejected it completely.

“If on the basis of that you do not represent, it does not show you as a serious government in the first place.

“This is not a flippant government and before it asked for that kind of loan, it did its homework properly and if the senate says it needs more details that will be provided and represented,”


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