The Senate, on Thursday, approved the $22.7bn loan request of President Muhammadu Buhari, after a heated debate that ended up in a closed session.
The lawmakers after a closed-door session, which lasted about 45 minutes, approved the two-item recommendation of the Committee on Local and Foreign Loans, chaired by Senator Clifford Ordia.
According to Investigations by The PUNCH, revealed that the senators had resolved the issues that had generated tension during the initial deliberation on the document at the closed session.
The President of the Senate, Ahmad Lawan, pledged that the loan would be spent on projects that would have an impact on the lives of Nigerians.
He also challenged the various committees of the red chamber to ensure strict oversight so that every dollar in the loan would be accounted for.
The bulk of the loan would come from the Islamic Development Bank, African Development Bank, the World Bank and banks from China, Japan and Germany.
President Bola Ahmed Tinubu has declared that Nigeria is on the path to recovery despite…
President Bola Tinubu has reiterated that he has no regrets about removing the fuel subsidy,…
US President Joe Biden on Monday commuted the death sentences of 37 of the 40…
President Bola Tinubu will address Nigerians in his first media chat on Monday evening as…
Renowned cleric and peace advocate, Bishop Sunday Onuoha, Founder and President of Vision Africa International…
Nigeria recorded a total of 1,154 Lassa fever cases with 190 deaths this year, the…