The Peoples Democratic Party had last week urged the National Assembly to turn down the loan request.
On Tuesday, November 1, the Senate voted overwhelmingly against the President's request to borrow money from external sources to fund infrastructure in the country.
The Senate Leader said some grey areas in the proposal caused the rejection, noting that this will be rectified, after which the request will be re-presented.
Speaking to newsmen at the National Assembly complex on Tuesday, Ndume said if he had any idea his colleagues would shoot down the loan request, he would have lobbied them earlier.
He said: "I’m going to appeal to my colleagues to see how we will bring the proposal back.
"I think there were some technical issues; it was supposed to go to the committee where it will be worked on, but unfortunately it didn’t happen.
"But we’ll look at it. But I can’t say when the re-presentation of the proposal will be.
"I had no idea the proposal would be rejected if I had an idea I would have marketed it."
The rejection followed the appeal made by the Peoples Democratic Party (PDP) last week, urging the National Assembly to turn down the loan request.