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Buhari to secure $12.9bn World Bank, Chinese loans
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.
Details later….
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David
April 27, 2017 at 9:19 am
Never approve the loan; the Northeast security problem is not the only security problem in the country, Fulani herdsmen terrorism is a greater and wider security problem in the country.
No ideas to engage in asset based development of our country, only borrowing. The cluelessness and incompetence of this government is more feasible than the former administration.