Senate Approves Buhari’s $6.1bn Fresh Foreign Loan Request

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The Senate has approved the Federal Government’s request for a $6.1 billion (N2.343 trillion) loan request.

The Senate gave the approval on Wednesday after it considered a report from its Committee on Local and Foreign Debt which it earlier directed to work on the loan request.

President Muhammadu Buhari had earlier in May asked the National Assembly to approve the loan request, saying it would be raised from multilateral and bilateral tenders as well as the international capital market.

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