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Federal Government’s plan to borrow 29.9 billion dollars
Federal Government’s plan to borrow 29.9 billion dollars to fund a three-year budget cycle may be stalled.

Federal Government’s plan to borrow 29.9 billion dollars to fund a three-year budget cycle may be stalled.

The Federal Government’s plan to borrow twenty nine point nine billion dollars to fund a three-year budget cycle may be stalled by some institutional lapses.

Some members of the National Assembly are saying that such a request for loans and grants from external sources requires accompanying documents, which only a substantive Auditor-General of the Federation could approve.

According to a senator who is a member of the Committee on Appropriations, the International Monetary Fund and the African Development Bank require a confirmation report from a substantive auditor-general before the funds are disbursed to recipient countries.

Also speaking, Chairman of the Senate Committee on Appropriations, Senator DANJUMA GOJE expressed doubts over the work-ability of the loan request, saying, “I hope that the federal government will succeed in obtaining these loans with the situation on the ground.”

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