Senate President Ahmad Lawan on Tuesday gave one week to the Senate Committee on Local and Foreign Debts to scrutinize President Muhammadu Buhari’s request to borrow fresh sums of $4,054,476,863 and €710 million in an addendum to the 2018-2020 borrowing plan.
Lawan’s decision followed the presentation of the loans to the Senate by the leader of the Senate, Senator Abdullahi Yayaha.
According to him, the request is to be forwarded to the Senate Committee on Local and Foreign Debts and report back within one week.
Buhari in the letter also asked the National Assembly to approve grant components of $125 million.
The loans request was in a letter read by Senate President Ahmad Lawan on the floor of the upper legislative chamber last week Tuesday.