Senate Approves Buhari’s $5.5 Billion Foreign Loan Request

The Senate on Tuesday approved a $5.5 billion external loan request by President Muhammadu Buhari. The president had in a letter on October 10 requested the Senate to approve $3 billion external loan and $2.5 billion Eurobond or Diaspora bond in the international market.Mr. Buhari explained that the bonds would be channelled towards funding the 2017 budget while the loan would be used in via IFTTT