Acting President seeks Senate approval for $1.5bn loan
The $1.5 loan which is part of the FG’s external borrowing plan is meant for projects in 10 states.
Prof. Yemi Osinbajo, Nigeria's Acting President
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Senate President, Bukola Saraki read Osinbajo’s letter at plenary on Tuesday, June 6, 2017.
The loan which is part of the federal government’s external borrowing plan is meant for projects in ten states.
The states include; Kaduna, Ogun, Ebonyi, Abia, Katsina, Jigawa, Kano, Enugu, Plateau and Ondo.
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The loan is to be sourced from four donor agencies - World Bank, African Development Bank (AfDB), Islamic Development Bank and French Development Bank.
A breakdown of the loan request as seen by shows;
Kaduna - $350 million
Ogun - $350 million
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Ebonyi - $70 million
Abia - $100 million
Katsina - $110 million
Jigawa - $32.4 million
Ebonyi - $80 million
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Kano - $200 million
While Enugu, Kano, Plateau and Ondo will share $200 million.
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