The Senate Committee on Local and Foreign Loans and Debts has recommended the rejection of the loan application of the Kaduna State Government for $350 million.
The recommendation was made known on Thursday at the Senate plenary.
The committee is headed by Senator Shehu Sani, who is from Kaduna State.
Sani, who is at loggerheads with the Kaduna State Governor, Malam Nasir el-Rufai, said if the loan is granted, the state will be the second most indebted in the country.
All three senators from the state spoke against the approval of the loan.
Apart from Sani, others are Senators Suleiman Hunkuyi and Danjuma Lar.
As at press time, the debate on the issue was still ongoing.