The Senate has rejected President Muhammadu Buhari’s request for authorisation to borrow about $30 billion. (pictured above) Senate President Bukola Saraki and Deputy Senate president Ike Ekweremadu.
The president, last Tuesday, forwarded a request to the National Assembly to approve external borrowing plan of $29.960 billion to execute key infrastructural projects across the country between 2016 and 2018.
He made the requests in two separate letters to the President of the Senate, Bukola Saraki, and Speaker of the House of Representatives, Yakubu Dogara.
Mr. Buhari said the external loan, the biggest in Nigeria’s history, will fund targeted projects cuts across all sectors with special emphasis on infrastructure, agriculture, health, education, water supply, growth and employment generation.