Buhari Applies For Fresh N402billion Loan For Nigeria Via Promissory Notes

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Despite the alarming debt profile of Nigeria, President Muhammadu Buhari has again asked for the Senate's approval for the issuance of promissory notes totalling over N402billion.

The first of such requests read in plenary by Senate President, Ahmad Lawan, was N375billion meant for settlement of outstanding claims owed various exporters, Daily Sun reports.

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Other similar debts payment requests to be routed through Debt Management Office (DMO) are N6.706 billion for Kebbi State Government on construction of federal road in the state and N2.706 billion for Taraba State Government for constructing federal roads as well. President Buhari in another request also sought approval of the Senate on issuance of N18.623 billion for Kebbi State Government.

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