PMBWith less than two months to the end of the year, President Muhammadu Buhari has sent a supplementary appropriation bill for the 2015 fiscal year to the Senate for approval.

LOANS

A letter conveying the president’s request, which was read Wednesday, during plenary, by the Senate President, Bukola Saraki, requested the Senate’s approval to borrow the sum of N2.10 trillion to finance the budget.

According to President Buhari, the N882 billion loan earlier proposed by the immediate past Goodluck Jonathan government to finance the budget had to be raised to N2.10 trillion, due to emerging realities in the country.

The source of the loan, according to the president, would be from both local and foreign.

Details later…

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