The ministries of Finance and Budget and National Planning as well as the Debt Management Office have begun working on the details of President Muhammadu Buhari’s $29.96bn external borrowing
plan following its rejection by the Senate on Tuesday.The request for legislative approval for the borrowing plan covering 2016 to 2018 was rejected by senators during Tuesday’s plenary after the Majority Leader of the Senate, Senator Ali Ndume, moved the motion that the request be subjected to a debate, and the President of the Senate, Dr. Bukola Saraki, put the motion to a voice vote twice.
One of our correspondents gathered from the Presidency that jolted by the lawmakers’ action, the leadership of the ministries of Finance and Budget and National Planning as well as the DMO immediately met to work on the details of the external loans with a view to going back to the Senate with a more detailed document.
Punch
One of our correspondents gathered from the Presidency that jolted by the lawmakers’ action, the leadership of the ministries of Finance and Budget and National Planning as well as the DMO immediately met to work on the details of the external loans with a view to going back to the Senate with a more detailed document.
Punch
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