Home News Nigeria’s Senate approves Buhari’s request to seek $5.5 bln in foreign loans

Nigeria’s Senate approves Buhari’s request to seek $5.5 bln in foreign loans

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*Nigeria’s Senate on Tuesday approved a request by President Muhammadu Buhari to seek $5.5 billion in foreign loans.*

The external borrowing would include $2.5 billion in Eurobonds to plug part of the 2017 budget deficit and $3 billion to refinance maturing domestic debt to lower the country’s funding costs.

The government said the loan will assist the government in funding rail, road and other projects in the country.

“The projects, when completed, will create jobs through a chain of econom…
READ MORE : http://www.africanews.com/2017/11/14/nigeria-s-senate-approves-buhari-s-request-to-seek-55-bln-in-foreign-loans

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