The Senate has rejected the request of President MUHAMMADU BUHARI to borrow twenty nine point nine-six billion dollars from foreign financial institutions.
Senate Leader ALI NDUME moved the motion for consideration of the request which was seconded by Deputy Minority Leader, EMMANUEL BWACHA.
However, when the Senate President, BUKOLA SARAKI, put the question to the senate on whether the request be considered or not, the senators voted against it.
The senators turned down the external borrowing request due to what they called “lack of documents supporting the request as referenced in the letter”.
President BUHARI had last week requested for the lawmakers’ approval to secure twenty nine point nine billion dollar loan and the virement of one hundred and eighty billion naira for critical capital and recurrent expenditure including NYSC, Amnesty, Armed forces, foreign missions among others.