President Muhammadu Buhari seeks National Assembly approval for $12.7bn external loan
President Muhammadu Buhari has sought the approval of the National Assembly for external loan of $12.777 billion from the China Exim Bank and World Bank.
This is part of the Federal Government 2016 to 2018 External Borrowing (Rolling) Plan.
This was contained in separate letters addressed to the Senate President Bukola Saraki and Speaker House of Representatives Yakubu Dogara and read at Wednesday plenary.
The breakdown includes China Exim Bank loan of $6.926billion and $5.851billion World Bank loan respectively.