-The Nigerian Senate approved President Bola Tinubu’s request for a $2.2 billion loan to help finance the ₦9.7 trillion budget deficit for the 2024 fiscal year.
-The approval followed the presentation of a report by Aliyu Wamakko, Chairman of the Senate Committee on Local and Foreign Debts.
-President Tinubu explained in a letter that the loan is part of his administration’s fiscal strategy for 2024, with the loan already included in the external borrowing plan for the year.
-Senate President Godswill Akpabio instructed the Senate Committee to quickly review the request, which led to a swift report submission and loan approval.
-Although the committee was given 24 hours to review the request, they submitted their findings the following day, leading to the approval of the loan on Thursday.
Peoplesmind
