Nigeria News: The Senate has started The Approval of Buhari's $29.96bn foreign loan.


Muhammadu Buhari.

The Senate has started the brew  to approve the $29.96bn foreign loan request forwarded to the National Assembly by the President, Major General Muhammadu Buhari (retd).

The President of the Senate, Ahmad Lawan, had declared at a news conference on Monday that the Senate will approve the bill.

He referred the request to the Committee on Local and Foreign Loans at the plenary.Lawan asked the committee to work on the proposal and report back to the Senate within two weeks.
The Nigerian Senate proposed an increment in 2020 budget. The Senate proposed N10.594 trillion as the 2020 budget on Thursday as against the previous N10.33 trillion proposed by President Muhammadu Buhari earlier to the joint session of the National Assembly on October 8, 2019.This Senate decision included  the use of the report of its Committee on Appropriation at plenary.

The report presented by  the chairman of the panel, Senator Barau Jibrin, said the increase of N264 billion allowed for interventions in critical sections such as national security, road infrastructure mines and steel development, health among others.

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