Senate President Ahmad Lawan has given the Senate committee on foreign and local debts 14 days within which to process President Muhammadu Buhari’s request for a fresh ₦2.343 trillion for approval.
Lawan gave the directive at the commencement of the Senate plenary session on Tuesday, June 1.
After Senate Majority Leader Yahaya Abdullahhi drew lawan’s attention to the pending application, instructions from the Senate Chairman were relayed to the committee.
The committee has approved a total of $ 28 billion to date, and the current request will bring the total approved loan to $ 35.683 billion. In applying for the new loan, President Buhari declared that the funds will be used to finance the budget deficit of N5.6 trillion in 2021. The committee is chaired by Senator Clifford Aldia, a member of the Edo State People’s Democratic Party.