$22.9bn Loan: Senate Will Ensure Every Cent Borrowed Is Tied to Project – SP Ahmad Lawan

Senate President Ahmad Lawan says President Buhari has provided details on the new borrowing request of $22.9bn loan.

Lawan, who disclosed this at a media briefing in Abuja, said the situation for the request in 2016 was not the same.

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“The situations are not the same. In 2016 there were no details. I think the presidency has learned its lesson. This time, the presidency brought the requests with every possible detail.”

He also promised that the senate would take a critical look at the request and “ensure that every cent borrowed is tied to a project, properly, prudently and economically applied.”

Recall that the 8th Assembly had turned down the same request.

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Former President Olusegun Obasanjo recently expressed his worry over Nigeria’s domestic and foreign debt.

“I say this without fear of contradiction. I have borrowed from banks as a private sector operator, and I have borrowed as a political leader, so I believe you would understand my fears and experience about jumbo loans and my agony in getting rid of our external debts and developing a sustainable approach to address our domestic debts,” Obasanjo said.

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