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Osinbajo seeks additional $1.28bn as part of Fg's borrowing plan

Acting President, Osinbajo seeks National Assembly’s approval on sum of $1.28bn as borrowing plan

Acting President, YEMI OSINBAJO has requested the National Assembly to include the sum of 1.28 billion ‎dollars as part of Federal Government borrowing plan.

In a correspondence addressed to the Speaker of the House of Representatives, Honourable YAKUBU DOGARA, the Acting President asked for express approval of the request.

The letter noted that the facility in the sum of 1.28 billion U.S dollars appeared to be inadvertently omitted in the 2014-2016 external borrowing plan approved by National Assembly.

According to the letter read on the floor of the House, OSINBAJO said and I quote, “I write in reference to my earlier letter requesting for the consideration and approval of the House for the 2016-2018 external borrowing (rolling) plan and to forward herewith two more important under listed items for inclusion into the said borrowing plan as addendum.

One is the Development Bank of Nigeria, and the second is the Fund for Agricultural Finance in Nigeria.

The Acting President said the bank is ready to commence operation and the donors are also ready to commence disbursement consequent upon National Assembly’s approval of the borrowing.

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