Buhari resends external borrowing plan rejected by 8th N’Assembly

Senate President, Sen. Ahmed Lawan looks on as his deputy, Sen. Ovie Omo-Agege kneels to greet President Muhammadu Buhari during a meeting with the new leadership of NASS held in Aso Rock

President Muhammadu Buhari on Thursday re-sent the 2016-2018 external borrowing plan to the National Assembly for its consideration and approval.

The financial plan was approved by the Federal Executive Council in August 2016 and sent to the 8th Assembly in September 2016.

The leadership of the federal parliament led by Senator Bukola Saraki and Yakubu Dogara invariably rejected the request in November 2016.

Buhari had asked the 8th Assembly to approve plans to borrow $30bn abroad to fund infrastructure plans from 2016 to 2018.

The President of the Senate, Ahmad Lawan, who read the fresh request sent by Buhari during plenary, did not give details of the executive communication.

Our correspondent can not confirm as of the time of filing this report if the amount in the external borrowing request sent in 2016, was the same thing contained in the latest request.



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