Nigeria: States Defend U.S.$3.39 Billion Foreign Loans

7 December 2012

States have begun to defend their plans for the U.S.$3.05bn foreign loan they are to receive from the $7.9bn loan proposed by the Federal Government for the various pipeline projects.

President Goodluck Jonathan had sought the approval of the Senate for the various proposed pipeline projects for the revised 2012-2014 Medium Term External Borrowing Plan of $7.9 billion which the Senate later referred to the Senator Ehigie Uzamere-led committee for further legislative input.

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