For the upteenth time time year, the Federal government has gone back to the National Assembly to seek permission fir additional loan to find it’s three Years external borrowing plan.
President Muhammadu Buhari Tuesday sought approval of Senate for external loan as addendum to the 2018 to 2021 Federal Government’s external borrowing plan.
Buhari’s request was contained in a letter addressed to President of Senate Ahmad Lawan and read at plenary on Tuesday.
Buhari in the letter said the loan which would be sourced from the multilateral organisations would be used to finance critical projects of the Federal and States governments.
Buhari in the letter said:
“Addendum to the Request for Senate concurrent approval of Multilateral Fund Projects under the 2018 to 2021 Federal Government external borrowing plan.
“I write to the above subject to submit attached addendum to the proposed 2018 to 2021 Federal Government external borrowing rolling plan for the consideration and concurrent approval of the Senate.
“Senate may wish to recall that I had earlier transmitted a request from the proposed 2018 to 2020 Federal Government external borrowing plan for the concurrent approval of Senate in May 2021