The president made the request through a letter to the Senate, read during the plenary by the Senate President, GodsWill Akpabio, on Tuesday, noting that the fund was to execute critical projects in different sectors.

The President Bola Tinubu-led administration has sought the approval of the Nigerian Senate for $8.6billion and €100million borrowing plan.

The president made the request through a letter to the Senate, read during the plenary by the Senate President, GodsWill Akpabio, on Tuesday, noting that the fund was to execute critical projects in different sectors.


The request was said to be part of the federal government 2022-2024 external borrowing plan approved by former President Muhammadu Buhari’s administration, according to the letter.

Tinubu explained that the projects to be funded with the loan cuts across different sectors of the economy, and were selected based on economic evaluation and the expected contribution to the country’s development.

The letter reads in part;, “I write in respect of the above subject and to submit the attached the federal government 2022-2024 external borrowing plan for consideration and early approval of the National Assembly to ensure prompt implementation of the projects.


“The Senate may wish to note that the past administration approved a 2022-2024 borrowing plan by the federal executive council (FEC) held on May 15, 2023.

“The project cuts across all sectors, with specific emphasis on infrastructure, agriculture, health, water supply, roads, security, and employment generation as well as financial management reforms.

“Consequently, the required approval is in the sum of $8,699,168,559 and €100 million.

“I would like to underscore the fact that the projects and programmes in the borrowing plan were selected based on economic evaluations as well as the expected contribution to the social economic development of the country, including employment generation, and skills acquisition.

“Given the nature of these facilities, and the need to return the country to normalcy it has become necessary for the Senate to consider and approve the 2022- 2024 external abridged borrowing plan to enable the government deliver its responsibility to Nigerians.”

In August, the National Assembly approved President Tinubu’s request for over $800 million loan to finance the National Social Safety Network Programme.

The National Assembly had also approved the 2022 Supplementary Appropriations Act of N819 million “for the provision of Palliatives to Nigerians to cushion the effect of fuel subsidy removal”.


https://saharareporters.com/2023/11/28/president-tinubu-seeks-senate-approval-fresh-86billion-eu100million-loans-amid-nigerias

what a disaster party. borrowing and borrowing without development

I laugh in Idoma language ooo. Their certificate forger president is working. I will never stop calling APC an evil party and big a curse to humanity. How do you want Nigeria to be great when agberos, touts, terrorist sponsors, illiterates, people without economy knowledge, strange men, certificate forgers and killers are in power? Nigeria will never develop until we destroy and bury tribal, religion, social and political sentiments.

$8b dollars.

How we go take pay back? Are we borrowing from World Bank or IMF?

Nlfpmod, nawa oo dis oponkrponke wan borrow de whole world? Who de borrow us self.

ogododo:
The president made the request through a letter to the Senate, read during the plenary by the Senate President, GodsWill Akpabio, on Tuesday, noting that the fund was to execute critical projects in different sectors.

The President Bola Tinubu-led administration has sought the approval of the Nigerian Senate for $8.6billion and €100million borrowing plan.

The president made the request through a letter to the Senate, read during the plenary by the Senate President, GodsWill Akpabio, on Tuesday, noting that the fund was to execute critical projects in different sectors.


The request was said to be part of the federal government 2022-2024 external borrowing plan approved by former President Muhammadu Buhari’s administration, according to the letter.

Tinubu explained that the projects to be funded with the loan cuts across different sectors of the economy, and were selected based on economic evaluation and the expected contribution to the country’s development.

The letter reads in part;, “I write in respect of the above subject and to submit the attached the federal government 2022-2024 external borrowing plan for consideration and early approval of the National Assembly to ensure prompt implementation of the projects.


“The Senate may wish to note that the past administration approved a 2022-2024 borrowing plan by the federal executive council (FEC) held on May 15, 2023.

“The project cuts across all sectors, with specific emphasis on infrastructure, agriculture, health, water supply, roads, security, and employment generation as well as financial management reforms.

“Consequently, the required approval is in the sum of $8,699,168,559 and €100 million.

“I would like to underscore the fact that the projects and programmes in the borrowing plan were selected based on economic evaluations as well as the expected contribution to the social economic development of the country, including employment generation, and skills acquisition.

“Given the nature of these facilities, and the need to return the country to normalcy it has become necessary for the Senate to consider and approve the 2022- 2024 external abridged borrowing plan to enable the government deliver its responsibility to Nigerians.”

In August, the National Assembly approved President Tinubu’s request for over $800 million loan to finance the National Social Safety Network Programme.

The National Assembly had also approved the 2022 Supplementary Appropriations Act of N819 million “for the provision of Palliatives to Nigerians to cushion the effect of fuel subsidy removal”.


https://saharareporters.com/2023/11/28/president-tinubu-seeks-senate-approval-fresh-86billion-eu100million-loans-amid-nigerias

After all the lies about savings from subsidy. APC has sunk Nigeria. They have borrowed till 5th generations. Nothing to show for the wickedness.

Apc has bankrupted Nigeria, God bless buhari and Tinubu, what a billion sit at home could not achieve in 20 years they have delivered without a single gun shot in 6 month

Borrow! Borrow! Borrow!
Where are all the revenues generated from petrol subsidy removal?

My advice to tinubu, please use the loans to buy printers from Germany and bring to Nigeria and start printing naira. Anything short of this is waste

Nigeria's story will be epic and worse than roman empire, this is not a banana or plantain republic, this is now a cassava republic

But the minister of finance said no more borrowing cox government is saving funds thanks to subsidy removal. Welcome to Renewed borrowing & hopelessness

Notice how the loan was expressly approved by the national assembly. Bring a bill that would lead to the good of the society like the start up bill and see it take years to become a bill

Like this we dey owe many countries around the world

This man go finish us

Ok



I want to sell this out, Brand new....

Payment on delivery ( Lagosians ONLY)
25k, NEGOTIABLE

If you live outside lagos, I dey collect my money first.

Ok

Tinubu a smart educated man that built Lagos from scratch is following in the footsteps of buhari who had 150 cows in daura before he became president and still has 150 cows after leaving office

For what actually?

How can you borrow money and use it to build road, hospitals, and other projects that cant repay themselves up

It's economic suicide

This is exactly what Buhari did that never worked

Chai

Nigerians are Rich people I don't see why the government should go about shamelessly borrowing money from others..
There are alot of billionaires
Dangote, adenuga, cubana , ibeto .. bua
Littered across the country..
If you check out the social media space especially tiktok
You see Nigerians spraying huge money in parties and wedding...
Even Davido can easily cough out 8 billion dollars

APC is evil.

Donvictor2015:
APC is evil.

PDP is satanic!

LP is Lucifer's Party!

slivertongue:
what a disaster party. borrowing and borrowing without development

So why is PDP not taking advantage of APC’s fuckup to gain more followers on its side

Noted.

JOHN 10/10 THE THIEF COMETH TO STEAL, KILL AND DESTROY


THE LOOT HAS BEGAN.


BUHARI HAS FINISHED, IT IS TINUBU TURN.



LMAO

Nigerians: Buhari is the worst president in history,anybody will perform way better than him.

BAT: Hold my beer 🍻.

K

Are we not done for once with these borrowing and borrowing? What happens to the subsidy removal money running to trillions ?
The Nigerian government is just being wicked to say the least.
But the hypocrites won't just talk about this since it's not Buhari!

What are the critical projects? Are we all not 8n this Nigeria? Let him name them na.

Is it for eba

Cumrades, we are in for it........

Hahahahahaha😂😂😂😂😂😂

“I will continue from where buhari stopped”

simple sentence una no understand 😂

Abeg make I find where I go watch champions league , 😂😂😂😂😂