Tuesday, 6 June 2017

Prof Osinbajo Seeks Approval for $1.5billion Loan From Senate

Prof. Yemi Osinbajo, the acting President wrote to the Senate, requesting for approval of external loan of an amount of $1,492,400,000.00.
Bukola Saraki, the Senate President stated that the facility was part of the borrowing plan of the federal government, and its meant for projects in ten states which includes; Abia, Enugu, Ebonyi, Jigawa, Plateau, Kano, Ondo, Ogun, Kastina and Kaduna.

The loan is sourced from World Bank, French Bank, African Development Bank and Islamic Development Bank.

The states to benefit from the loan are;
Kano – $200 million
Ogun – $70 million
Kaduna – $350 million
Jigawa – $32.4 million
Enugu - $200 million
Ondo - $200 million
Abia – $100 million
Katsina – $110 million
Ebonyi – $80 million
Plateau - $200 million

He further wrote in the letter that;
“It will be highly appreciated if you could kindly give this request an expedited consideration and approval to enable the states meet up with all other effectiveness conditions for the implementation of the projects in their respective states"

No comments: