Nigeria: Senate to Pass Buhari's U.S.$30 Billion Loan Request - Lawan

Photo: The Guardian
16 December 2019

The Senate President, Ahmad Lawan, on Monday, gave the clearest indication yet that the Senate would pass a $29.96 billion loan request by President Muhammadu Buhari.

Mr Lawan, while addressing journalists in Abuja, said the Senate would approve the loan request but would ensure adequate oversight.

"We are going to be critical that every cent that is borrowed is tied to a project," Mr Lawan said in response to a question by a journalist.

A similar request by Mr Buhari to the 8th Senate led by Bukola Saraki was rejected.

While reacting to the 2016 rejection, Mr Lawan, who was then a senator, said the Senate was right then to have rejected the loan request.

"In 2016, there were no sufficient details," he said, adding that "the executive has learnt its lessons."

Mr Lawan said Mr Buhari had provided necessary details of what the loan would be used for in his new request.

"The letter conveying the loan request of the executive came with every possible details," he said.

More details later...

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