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We’ll provide details of $29.96bn loan soon, says Presidency

According to reports, the Presidency on Tuesday reacted to the rejection of the $29.96 billion loan application by President Muhammadu Byhari by the Senate.


The Presidency said the details of the loan will be provided to the National Assembly very soon.

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The Senior Special Assistant (Senate) to the President on National Assembly Matters, Senator Ita Enang, told the newsmen that details of the borrowing plan will be made available to National Assembly very soon.

It was gathered that the Senate rejected the request because the borrowing plan and other details were not attached to the letter to the Senate by Buhari.

Enang said: “We are not disputing with the distinguish senators.

“There are certain information and details which will enable them to consider in details and approximately the request of Mr. President that are contained in the plan.

“So we are collating that information.

“The Budget Office, Minister of Finance, Debt Management Office‎ and Minister of Budget and National Planning and the Economic Team, they are collating the information so that they can be submitted to appropriate section.

“We would be engaging the Senate.

“We will not be disputing with them, but we will be engaging with them.

“When we present a matter before the legislature, it is for them to consider and as they have considered more information is needed and that information they are entitled to it and we would provide.”

3 Comments on We’ll provide details of $29.96bn loan soon, says Presidency

  1. That is very good


  2. I really did not support this at all


  3. Trial by error. So, una think say, you will not tell the Senate how you want to use the money at least before we get enslaved to the foreign countries you are going to borrow the money? These are the lot that were never prepared to rule, but only wrestle power from others, and not knowing what to do. Even a child have to explain to his parents what he intend to do with money he is asking from persons who are under obligation to care for him. Talk less of going to borrow, to do what you did not disclose. Tell them, where, how, and what you want to do with the money? What are the various projects you want to executive, and how long will it take to complete? What will be the effect and benefit to Nigerians that their future must be mortgaged? Will these project produce income to pay for the loan over time?
    I am very sure, as usual with them, and with the kind of human being he has appointed around himself who are not used to performing without Yoruba, or Ibo or another Southern working in the background, the Senate will not get a proper paperwork worthy of the Senate to approve, except some magomago must take place like the 2016 budget which went forth and back for months without end. Let the Diploma in Islamic Studies, Law surround yourself. They will perform Sharia perfectly, as Boko is Haram.


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