President Buhari wan collect another loan- See all di places wia Nigeria goment don borrow money from
Nigeria President Muhammadu Buhari don request di approval for anoda set of loans.
Dis time President Buhari dey seek approval from National Assembly to borrow $4,054,476,863 and €710 million respectively.
Di President request dey inside letter to di Senate, wia e explain sey di loan na part of di 2018-2020 borrowing plan.
President Buhari also tell di lawmakers to approve grant components of $125 million.
"Di distinguished senate president fit recall say I submit one request on 2018-2020 borrowing plan for di approval of the senate for May 2021.
"However, in view of oda emerging needs and to ensure sey all critical projects wey FEC approve as of June 2021 dey incorporate, I hereby forward an addendum to the proposed borrowing plan.
"Di projects listed for di external borrowing plan go get dia financing through sovereign loans from di World Bank, French Development Agency, EXIM Bank and IFAD in the total sum of $4,054,476,863 and €710 million and grant components of $125 million," Senate President Ahmad Lawan read from di letter.
Nigeria Debt profile and wia Nigeria goment don borrow money from
According to di Debt Management Office Nigeria Public Debt Stock as at March 31, 2021 na N33.107 trillion.
Dis one na before Senate approve Federal goment 2018-2020 external borrowing rolling plan of $8.3 billion and 490 million euros for July, 2021.
Some of di organizations wey Nigeria goment don borrow money from na
- International Monetary Fund [IMF]
- World Bank group
- African Development Bank [AfDB]
- France and odas wey dey inside di document.
Di office for information wey dem publish on dia official website say "di Total Public Debt Stock wey comprise di Debt Stock of di Federal Government of Nigeria (FGN), thirty-six (36) State Governments and the Federal Capital Territory (FCT) stood at or USD87.239 billion.
Di Debt Stock also includes Promissory Notes in di sum of N940.220 billion wey di offcie issue to settle di inherited arrears of di FGN to State Governments, Oil Marketing Companies, Exporters and Local Contractors."