OSINBAJO SEEKS APPROVAL FOR ADDITIONAL $1.2BN EXTERNAL LOAN
source: http://www.eyesoflagos.com/2017/05/osinbajo-seeks-approval-for-additional.html

Acting President Yemi Osinbajo has sought the approval of the House of Representatives for the $1.280 billion loan intended for the Development Bank of Nigeria (DBN) which is ready to commence operation while the four foreign banks involved will commence the disbursement of the loan.
Osinbajo is also seeking the approval of €9m for agricultural financing to consolidate the gains of the first tranche of €10.5m which he sent the requests as an addendum to the 2016-2018 external borrowing plans.
Osinbajo, whose letter dated May 16, 2017 was conveyed to Speaker Yakubu Dogara in the Vice President’s seal and letterhead but signed with the designation of the Acting President, said the DBN was approved by the last administration but the loan facility was strangely omitted in the 2014/2016 borrowing plan by the National Assembly.
“The Development Bank of Nigeria (DBN) is a multi-donor supported bank approved under the previous administration with the Financing Agreement executed on February 25, 2015,” the letter reads.
“However, the facility in the sum of $1.28b appeared to be inadvertently omitted in the 2014/2016 external borrowing plan approved by the National Assembly.
“The bank is being supported by the World Bank, African Development Bank, KfW Development Germany and French Development Agency in the sum of $500m, $450m, $200m and $130m respectively.
“The bank is ready to commence operation and the donors are also ready to commence disbursement consequent upon National Assembly approval of the borrowing.
“Furthermore, Fund for Agricultural Finance in Nigeria (FAFIN-11) is being supported by KfW Development Bank of Germany in the sum of €9m.
“The first phase of (FAFIN-1) was €10.5m and the Financing Agreement was executed on October 3, 2013.
“It is an investment facility in agricultural financing. The first tranche of FAFIN-1 has been fully disbursed and the donor is ready to provide another tranche of €9m for FAFIN-11.
“The second tranche is for the consolidation of the gains in the investment of the first tranche.”

ha

The co-ordinator must be high on salad if its true

buhari wan use osinbajo borrow loan hence he traveled to save himself from criticism...


EFFECT OF EXCESS CONSUMPTION OF HOLY WATER

Them wan chop their children future iya wan

Haa! 500billion Naira?
E daakun..

Lol, wetyn we no go hear?

voiceoftheupcom:
OSINBAJO SEEKS APPROVAL FOR ADDITIONAL $1.2BN EXTERNAL LOAN
source: http://www.eyesoflagos.com/2017/05/osinbajo-seeks-approval-for-additional.html

Acting President Yemi Osinbajo has sought the approval of the House of Representatives for the $1.280 billion loan intended for the Development Bank of Nigeria (DBN) which is ready to commence operation while the four foreign banks involved will commence the disbursement of the loan.
Osinbajo is also seeking the approval of €9m for agricultural financing to consolidate the gains of the first tranche of €10.5m which he sent the requests as an addendum to the 2016-2018 external borrowing plans.
Osinbajo, whose letter dated May 16, 2017 was conveyed to Speaker Yakubu Dogara in the Vice President’s seal and letterhead but signed with the designation of the Acting President, said the DBN was approved by the last administration but the loan facility was strangely omitted in the 2014/2016 borrowing plan by the National Assembly.
“The Development Bank of Nigeria (DBN) is a multi-donor supported bank approved under the previous administration with the Financing Agreement executed on February 25, 2015,” the letter reads.
“However, the facility in the sum of $1.28b appeared to be inadvertently omitted in the 2014/2016 external borrowing plan approved by the National Assembly.
“The bank is being supported by the World Bank, African Development Bank, KfW Development Germany and French Development Agency in the sum of $500m, $450m, $200m and $130m respectively.
“The bank is ready to commence operation and the donors are also ready to commence disbursement consequent upon National Assembly approval of the borrowing.
“Furthermore, Fund for Agricultural Finance in Nigeria (FAFIN-11) is being supported by KfW Development Bank of Germany in the sum of €9m.
“The first phase of (FAFIN-1) was €10.5m and the Financing Agreement was executed on October 3, 2013.
“It is an investment facility in agricultural financing. The first tranche of FAFIN-1 has been fully disbursed and the donor is ready to provide another tranche of €9m for FAFIN-11.
“The second tranche is for the consolidation of the gains in the investment of the first tranche.”

The Only Way to quickly take this Country out of Recession.

We need monies to get out of recession and ease the pressure on our Naira. There 4 ways to getting what you want

Produce it (Government isn't producing and recession is eroding business profits)

Steal it (Now stealing and grants are not options)

Buy it (Nigeria would have been willing to buy, but dollar is scares)

Like it or Not, we have to make international trade, we need the dollars. Whatever the citizens Tax may be is literally taking away by debt servicing as presented in the budget.

Now the fourth option is to borrow! Though the 'leftist' will go against it citing already huge debt servicing cost relative to GDP.

CROWNWEALTH019:
buhari wan use osinbajo borrow loan hence he traveled to save himself from criticism...


EFFECT OF EXCESS CONSUMPTION OF HOLY WATER

Them wan chop their children future iya wan

oh so, he's not dead again? Anufias

Why seeking loans? Whatever happened to all the recovered loot?