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SENATE REJECTS KADUNA $350M WORLD BANK LOAN

By Ismail Mudashir
Mar 29 2018.

The Senate has rejected the $350m loan request of the Kaduna state, after delaying it consideration for over a year.

The rejection followed the consideration and adoption of the report of the Senate committee on local and foreign debts chaired by Senator Shehu Sani (APC,Kaduna).

Sani said the approval of the loan would double the debt profile of the state from $232m to $532m. He said at the moment, the state was second in term of debt profile in the country.

Supporting the rejection, Senator Suleiman Othman Hunkuyi (APC,Kaduna) described it as a misplaced priority.

Also, Senator Danjuma La'ah (PDP, Kaduna) said the loan should not be approved.

Details soon

Culled Daily Trust