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Senate gives quick approval to Buhari’s request for N850billion loan

The Senate on Tuesday gave accelerated approval to President Muhammadu Buhari’s request for N850 billion loan from the capital market to finance projects in the 2020 budget. The upper legislative chamber further mandated its committees on finance and appropriation to liaise with the Minister of Finance, Zainab Ahmed, for details of the loan. President Buhari had in a letter addressed to Senate President Ahmad Lawan sought the approval of the Senate for the N850 billion loan.

Lawan said the Senate resumed plenary on Tuesday to find solutions to the coronavirus pandemic. “Government has responded well under the recommendations of scientists and experts,” e said. “Our sessions have been interrupted, but we have sustained our interventions and collaborations with other arms and agencies of government to mitigate the damage from the pandemic.” “We will continue in our efforts in the interest of our good health, the well-being of our people and the sustainable development of our nation. This pandemic has killed thousands of citizens across the world.”

Lawan extended condolences to Buhari for the loss of the President’s Chief of Staff, Abba Kyari, to coronavirus.