The Nigerian Senate has denied the approval of a fresh ₦850 billion loan for President Muhammadu Buhari following the resumption of it’s plenary on Tuesday.
Chairman, Senate Committee on Media and Public Affairs, Senator Ajibola Basiru, in a statement in Abuja on Thursday revealed that the Senate only passed a resolution to vary the terms of the approval it earlier gave for the loan request.
According to Basiru, te Senate approved that the N850billion be sourced from the domestic capital market and not from external sources.
The statement titled: “No Fresh Loan of N850bn Approved by the Senate” reads: “It is very important to make a very important clarification particularly as the widely circulated erroneous report that the Senate approved a fresh loan of N850 billion at the Plenary on Tuesday.
“That is far from the truth. The resolution passed was an amendment of the earlier resolution as to the source of the initial N850bn loan that had been approved to be part of what should be used to fund the 2020 Appropriation Act.
“You will recall that the Senate had actually approved the loan of N850 billion but to be sourced from external sources.
“However, because of the covid-19 pandemic and of the challenge in the international oil market with the attendant challenges of raising the approved loan externally, the President requested that the approved loan should rather be raised through the Domestic Capital Market.
“It was the above request as to sourcing the earlier approved external borrowing of N850bn from Domestic Capital Market that was approved by the Senate.”
As at Wednesday, there was uproar in the country over the Senate’s alleged approval of a new ₦850billion loan for the presidency.
(Ejesgist Media, Naijadailypost )
- University of Delta Agbor Massive Recruitment for Academic Staff
- Citibank Nigeria Limited Recruitment for Credit Risk Senior Analyst
- Customer Service Representative Jobs at Zenith Carex International Limited
- Jhpiego Recruitment for Knowledge Management and Communications Manager
- Danish Refugee Council (DRC) recruitment for a Supply Chain Assistant – Procurement
- UAC Foods Limited Management Trainee Programme 2021
- Chevron Nigeria Limited Graduate Internship Program 2021-2022