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BREAKING: Senate grants Buhari’s request to borrow N850bn

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The Senate has granted President Muhammadu Buhari’s request to borrow N850 billion to fund part of Nigeria’s 2020 budget.

Senate President, Ahmad Lawan, had earlier read a letter from the president requesting the upper legislative chamber to approve the loan request.

Buhari had said the loan would be sourced from the domestic capital market and used to fund projects in the 2020 budget.

The president said he had directed the Minister of Finance, Budget and National Planning, Zainab Ahmed, to provide further information required by the Senate to facilitate approval of the loan request.

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