Senate says it approved $28bn loans for Buhari in one year

Senate says it approved $28bn loans for Buhari in one year

- The Senate has said it approved about $28 billion loans for the President Buhari-led administration in the last one year

- The Senate president, Ahmad Lawan, made the disclosure during his speech to commemorate the first anniversary of the 9th National Assembly

- Lawan said the federal government has resorted to taking loans from both domestic and foreign sources to fund the 2020 budget

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The Nigerian Senate has disclosed that it has so far approved about $28 billion loans for the President Muhammadu Buhari-led administration in the last one year.

The Senate president, Ahmad Lawan, made the disclosure on Thursday, June 11, during his speech to commemorate the first anniversary of the 9th National Assembly, Daily Trust reported.

Senate says it approved $28bn foreign loans for Buhari in one year

The Senate president, Ahmad Lawan, said the loans were taken to fund the 2020 budget. Photo credits: Vanguard
Source: UGC

He said the federal government resorted to taking loans from both domestic and foreign sources to fund the 2020 budget.

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Lawan stated that due to the adverse impact of the COVID-19 pandemic on Nigeria’s revenues, the Senate was prompted to review of the 2020 budget.

He said the National Assembly is monitoring loans to ensure that they are used for the original purpose.

He said while borrowing may be inevitable at the moment, the government should consider public-private partnership (PPP) as a means of funding some of its projects.

The Senate president also pointed out that the COVID-19 pandemic had revealed the weaknesses in Nigeria’s health sector.

Meanwhile, according to the latest submission of Nigeria's Senate president, Ahmad Lawan, on Thursday, June 11, Boko Haram now operates in the country just like an industry.

Lawan revealed that the terrorist group now has its members from several religions and nations, AIT News reported.

The Senate boss lamented that despite countless resolutions and efforts made by the red chamber, the insurgents are still thriving in their business of inflicting pain and striking terror in the minds of Nigerians.

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Boko Haram has metamorphosed from initially a group of maybe religious zealots into now an industry. It is an industry because what they do is no more religious, they are people from difference, not faiths, from different countries they go about as Boko Haram," he said.

Meanwhile, in a renewed effort against insecurity across the country, the leaders of the National Assembly (NASS) have agreed to meet President Muhammadu Buhari and the service chiefs.

The ninth Senate, marking its one year anniversary on Thursday, June 11, reached the consensus to take the bull by the horn amid alarming rises in killing and attacks on villages in some states.

Legit.ng gathered that Senator Abubakar Kyari representing Borno North constituency moved the motion mandating the NASS leadership to meet with the president.

The upper chamber, in its resolution, also resolved to mandate the security operatives to urgently secure areas around the Lake Chad.

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Source: Legit.ng

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