PRESIDENT Muhammadu Buhari yesterday requested Senate’s approval for a fresh $2,868,540,000 external loan.
The request was contained in a letter addressed to the Senate President, Bukola Saraki.


Saraki read the letter in the Senate chamber yesterday.
Buhari noted that the loan would be used to partly fund the 2018 budget.
In the breakdown of the loan, Buhari explained that $2.786 billion would be borrowed from the international capital market for the part-financing of the 2018 budget’s fiscal deficit and to finance key infrastructure projects in 2018 budget.
He said the Federal Government needed to raise another $82.54 million from the international capital market to refinance the balance of $500 million mature Eurobond.
The President said: “Pursuant to Sections 21 (1) and 27 (1) of the Debt Management Office (Establishment Etc) Act, 2003, I hereby request for distinct and specific resolutions of the National Assembly to:
“Issue USD2.786 billion in Eurobonds and other securities in the international capital market for the implementation of New External Borrowing approved in the Federal Government of Nigeria’s 2018 Appropriation Act, for the part-financing of the 2018 budget’s fiscal deficit as well as to finance key infrastructure projects in 2018 budget.
“And issue Eurobonds and other securities in the international capital market for the refinancing of USD82.54 million, being the balance of the five-year, USD 500 million mature Eurobonds.”
Buhari also sought Senate’s approval for N346 billion Niger Delta Development Commission (NDDC) budget for 2018
The breakdown of the budget shows that while N313.883 billion should be appropriated for capital expenditure, N31 billion was earmarked for recurrent expenditure.
http://thenationonlineng.net/buhari-seeks-senates-nod-for-fresh-2-86bn-foreign-loan/

The purpose of the money? It won't be anything short of buying votes, bribe voting officials, paying thugs and riffraffs, settling 'helpers' and some ogas, rig election.. And cash out! Bastard dullard!!

repentant zombies be like....my brother defending this man at this point is completely impossible....this man is finished....

Fierce11:
The purpose of the money? It won't be anything short of buying votes, bribe voting officials, paying thugs and riffraffs, settling 'helpers' and some ogas, rig election.. And cash out! Bastard dullard!!

Cash out? He will not be allowed to walk away in 2019 just like that! He will be thoroughly frisked to strip him of any belongings of the State.

By the time this cow is through with the country....


It will take centuries and generations to get out of debt

The other ones they borrowed how have they used it, the China Naira swap deal comes to my mind, what have we achieved from this numerous loans, they should better park well.

Trust Saraki not to give him any nod. The Lifeless thing desperately looking for campaign funds. We say No to mortgaging of Nigeria's future.

He has already borrowed 11trillion naira in 3 years with nothing to show for it. Now he wants to borrow almost 3billion dollars . I sorry for nigeria.

Ok

BeardedMeat:
Cash out? He will not be allowed to walk away in 2019 just like that! He will be thoroughly frisked to strip him of any belongings of the State.

we all know that the certainty of buhari's exit is as sure as the garri you personally soaked in all glamour and fortifications.. Hence, his only option immediately his rigging plan fails, is to cash out... Buts as you rightly said, we would strip him unclad and tie him on the back of a psychotic cow that'll be hit hard until it starts running angrily and aggressively towards daura

Gbese ti mo bubu yi lara sha.

Ahh ahh!

Buhari is a certified Onigbese.

This clueless animal wants to sink this country before he leaves.

Fierce11:

we all know that the certainty of buhari's exit is as sure as the garri you personally soaked in all glamour and fortifications.. Hence, his only option immediately his rigging plan fails, is to cash out... Buts as you rightly said, we would strip him unclad and tie him on the back of a psychotic cow that'll be hit hard until it starts running angrily and aggressively towards daura

Hahahahahaha!!LWKMD!!