‘Senate Will Approve Buhari’s $30bn Loan Request’ – Lawan
President of the Senate, Ahmed Lawan, has said the upper chamber will approve a multi-billion dollar loan request by President Muhammadu Buhari.
Lawan made the disclosure on Monday while speaking with journalists in Abuja.
The loan request estimated at $29.960bn was rejected by the Senate in 2016 under the leadership of Dr Bukola Saraki.
But on Monday, Lawan said: “The question of whether we will pass the loan request of the executive arm of government, yes!
“But one thing is we are going to be critical that every cent that is borrowed is tied to a project. These are projects that will have spillover effects on the economy and we will undertake our oversight so well to ensure that such funds are properly, prudently, economically and transparently are applied on those projects.
“In 2016, the Senate did not pass the loan request of the executive at that time and the reason was because there were no sufficient details.”