We approved $28bn worth of loans for Buhari’s govt in one year for the good of Nigerians –Lawan

The Senate President, Ahmad Lawan, said on Thursday the 9th Senate had approved foreign loans in excess of $28 billion for the Executive in the last one year.

In a special address to mark the one year of the 9th Senate, Lawan said the borrowing was approved by the upper legislative chamber in order to support the government’s quest for national development.

He said: “In order to support and enable the government to raise the necessary funds for national development, there were requests for approval to borrow, both from the domestic and foreign sources. We have approved foreign loans of about $28 billion in the last year.

READ ALSO: Senate approves Buhari’s $5.513bn external loan request

“We ensured proper scrutiny of the desired projects and programmes of the government, the conditions of the facilities, before approving such borrowing requests.

“The task ahead of us is to ensure tracking, monitoring, and supervision of how the loans are applied. We must ensure that the target projects remain and that there is value for money also.”

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