Another Huge Debt Coming As Buhari Seeks NASS Approval For $30bn External Borrowing Plan Rejected By N’Assembly In 2016

President Muhammadu Buhari on Thursday re-sent the 2016-2018 external borrowing plan to the National Assembly for its consideration and approval.

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The financial plan was approved by the Federal Executive Council in August 2016 and sent to the 8th Assembly in September 2016.

LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT

The leadership of the federal parliament led by Senator Bukola Saraki and Yakubu Dogara invariably rejected the request in November 2016.

LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT

Buhari had asked the 8th Assembly to approve plans to borrow $30bn abroad to fund infrastructure plans from 2016 to 2018.

The President of the Senate, Ahmad Lawan, who read the fresh request sent by Buhari during plenary, did not give details of the executive communication.

Our correspondent can not confirm as of the time of filing this report if the amount in the external borrowing request sent in 2016, was the same thing contained in the latest request.

More details soon.