'Buhari will resend $30 Billion loan request to Senate', says Lai Mohammed

President Muhammadu Buhari will resubmit the request for his administration to borrow $29.96bn to the Senate despite the setback it received on the floor of the Upper Chamber on Tuesday.


Minister of Information and Culture, Alhaji Lai Mohammed, disclosed this to State House correspondents at the Presidential Villa, Abuja on Wednesday.

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Mohammed said the administration would continue to engage the Senators on the benefits inherent in the borrowing plan.

He expressed the optimism that at the end of the day, the federal lawmakers would see reasons and approve the request.

He said, “It is not unusual for the government and the Senate to have some disagreements, they want more information.

“We will continue to engage them. We will give them all the information they need.

“We are sure that by the time we finish, they (the lawmakers) will approve the request.”

The Leader of the Senate, Ali Ndume, had on Tuesday said senators voted against Buhari’s request for $29.9bn foreign loan was rejected due to technical issues.

Briefing newsmen shortly after plenary, Ndume, who said that he was shocked that the request suffered such setback, expressed optimism the issues would be resolved and the request would be represented.

He said, “The problem came on a technical ground; it is supposed to go to the committee level and the committee is supposed to take a look at it.

“I am going to appeal to my colleagues to take a look at it again and see how we are going to bring it back.

“One of the technical things that were missing is that in the letter, if you read it, says: ‘attached is a draft’ but there was no attachment.

“So, these are some of the lapses that we will look at in bringing it back.

“We were thinking that there was going to be details but there was no detail of the borrowing plan.

“I believe that those will be included in the next one.”


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