Jonathan Will Have To Wait For $1 Billion Loan Till September

Goodluck Jonathan's inquiry for an external loan of $1bn is delayed.

As the National Assembly, Senate and a 360-member House of Representatives, has embarked on their annual long recess today till the end of September, 2014, the President Jonathan's request for $1bn (approximately equal N165bn) for the Federal Government to confront the terrorist sect, Boko Haram, will have to wait to be considered and approved. It would normally take several days for such a loan to be passed.

It would be recalled that the president's inquiry became known during the House’s plenary in Abuja on Wednesday, July 16. In his letter entitled, “Tackling Ongoing Security Challenges: Need for Urgent Action” Jonathan explained that the external loan was urgently needed to upgrade the equipment, training and logistics of the armed forces and security services to help them confront the “serious threat” posed by Boko Haram. 

Source: Legit.ng