Senate state reason why it has approved Buhari’s loan requests

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The Nigerian Senate said that it has so far approved about $28 billion loans for the President Muhammadu Buhari-led administration in the last one year.

According to the Senate president, Ahmad Lawan, who made the disclosure on Thursday, June 11, during his speech to commemorate the first anniversary of the 9th National Assembly. Lawan said the loans were taken to fund the 2020 budget.

“The federal government resorted to taking loans from both domestic and foreign sources to fund the 2020 budget.” He said.

Northern leader reveals those allegedly causing failure of Buhari’s administration Lawan stated that due to the adverse impact of the COVID-19 pandemic on Nigeria’s revenues, the Senate was prompted to review of the 2020 budget. He said the National Assembly is monitoring loans to ensure that they are used for the original purpose.

He said while borrowing may be inevitable at the moment, the government should consider public-private partnership (PPP) as a means of funding some of its projects. The Senate president also pointed out that the COVID-19 pandemic had revealed the weaknesses in Nigeria’s health sector.

Meanwhile, according to the latest submission of Nigeria’s Senate president, Ahmad Lawan, on Thursday, June 11, Boko Haram now operates in the country just like an industry. Lawan revealed that the terrorist group now has its members from several religions and nations, AIT News reported.

Read Also: Senate approves President Buhari’s plan to borrow $22.7 billion

The Senate President, Lawan lamented that despite countless resolutions and efforts made by the red chamber, the insurgents are still thriving in their business of inflicting pain and striking terror in the minds of Nigerians.

He said “Boko Haram has metamorphosed from initially a group of maybe religious zealots into now an industry. It is an industry because what they do is no more religious, they are people from difference, not faiths, from different countries they go about as Boko Haram.”

Meanwhile, in a renewed effort against insecurity across the country, the leaders of the National Assembly (NASS) have agreed to meet President Muhammadu Buhari and the service chiefs.

The ninth Senate, marking its one year anniversary on Thursday, June 11, reached the consensus to take the bull by the horn amid alarming rises in killing and attacks on villages in some states.

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