Senate Set To Approve Buhari’s $29.960 Billion Loan Rejected Under Saraki

Senate President Ahmad Lawan had explained that the red chambers will approve a multi-billion dollar loan requested by President Muhammadu Buhari.

The senate president said this while speaking with journalists at a luncheon in Abuja on Monday.

The President had requested a loan worth $29.960 billion under the senate in 2016 led by Bukola Saraki but it was rejected.

However, the current senate president said the request was rejected at the time because the executive didn’t explain properly but has “learnt its lesson and the letter came with sufficient details”.

Lawan said, “The question of whether we will pass the loan request of the executive arm of government, Yes! If we don’t have money and you have projects that after you build them will not only provide infrastructure that you need but also spin money. ”

“But one thing is we are going to be critical that every cent that is borrowed is tied to a project. These are projects that will have spillover effects on the economy and we will undertake our oversight so well to ensure that such funds are properly, prudently, economically and transparently are applied on those projects.

“In 2016, the senate did not pass the loan request of the executive at that time and the reason was because there were no sufficient details.

“I want to inform this gathering and indeed Nigerians that the letter conveying the loan request of the executive came with every possible detail.”

Nelson

Omotimehin Nelson is a Nigerian award-winning content writer. He derives passion for creative writing. Join me