Business

Buhari to secure $12.9bn World Bank, Chinese loans

Nigeria has let a crisis go to waste

President Muhammadu Buhari has formally written to the National Assembly, seeking its approval to borrow over $12 billion loan.

President of the Senate, Bukola Saraki, while reading the letter on Wednesday, which was addressed to him by President Buhari, said the amount will be from the Chinese Nexim Bank and World Bank.

In the letter, Buhari said it will be for repair of railway transportation across the country, as well as for the rehabilitation of the North-East zone and other social security programmes.
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