BREAKING: Reps Finally Give Approval For Buhari’s $22.7bn Loan Request

The Nigeria House of Representatives has finally approved the request of $22.7 billion loan by President, Muhammadu Buhari.

Recall the President had on November 28, 2019 forwarded the loan request to the National Assembly for consideration and approval, to help Nigeria finance the capital component of the budget for 2020.

The loan, he said, is to execute key infrastructural projects across the country between 2016 and 2018.

While lawmakers of the upper chamber approved the loan in March, the lower chamber suspended the consideration.

According to speaker, Femi Gbajabiamila, it was suspended due to “agitation about the South-East not benefiting from the loan.”

Gbajabiamila said this to a delegation of religious leaders from the South-South and South-East regions of the country, in Abuja on Wednesday, March 18.

He said he had personally spoken with the finance minister and the director-general of the Budget Office to find a solution.

However, the lawmakers of the green chamber has now given the approval at Tuesday’s plenary, after the committee on aids, loans, and debt management gave its report.