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The Senate of Nigeria has yesterday approved President Muhammadu Buhari’s $5.513 billion external loan request to finance the revised 2020 budget, following the presentation and consideration of the report of the Senate Committee on Local and Foreign Debts, Senator Clifford Odia, from Edo Central at the Upper Chamber.

Recall that, President Buhari had, in his letter of request, the $5.513 billion external loan is to enable the Federal Government fund the 2020 revised budget, to enable the Federal Government execute its priority projects and for projects to support State Governments in stimulating their economy, which has been adversely affected by the COVID-19 pandemic.

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