Senate Will Approve $30bn Loan for Buhari, Says Ahmad Lawan
The Senate President Dr. Ahmad Lawan Monday said the Senate will approve President Muhammadu Buhari’s $29.9 billion loan request.
Lawan said this was based on the sufficient information that has been supplied so far by the federal government to back up the request.
He told newsmen in his office, “Yes, the Ninth Senate will approve the loan request. It is true that the Eighth Senate did not approve the loan request because there was no sufficient information. But this time around, we have been provided better information and details about the loan.
“Though, information has been provided, we shall definitely seek and ensure more explanations, to enable us to take the right decision. In 2016, no detailed information was provided. The executive has learnt its lessons and came up with more information. The Senate will approve the loan request.”
It would be recalled that Lawan and many other Senators had in the past kicked against such loan because of its implication in repayment.
Many had seen it as debt trap.
Lawan however said Monday that making more revenue available will help in financing the 2020 budget.
He also added that the passage and signing into law of the Production Sharing Contract by the National Assembly would attract about N420 billion which will help in financing the budget.
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