Reps okay $1.5 billion, €995 million loans without terms, condition - Debt

user_icon  Reps okay $1.5 billion, €995 million loans without terms, condition - Debt Posted by:
Tiamiyu Saheed Oluwatosin
calendar-icon  Reps okay $1.5 billion, €995 million loans without terms, condition - Debt Posted on: 2021-04-29 14:55:19
 Reps okay $1.5 billion, €995 million loans without terms, condition - Debt REPS



The House of Representatives has asked the Executive to send the terms and conditions of the loan it approved.

The green chamber concurred with the senate, who had last week approved the request by the government to borrow $1.5 billion and €995 million to finance key priority projects.

Following the consideration of the report of the House committee on aids, loans and grant by the Committee on Supply, the green chamber approved the loan.

DO YOU KNOW >>> Appeal Court voids conviction of companies linked to Goodluck Jonathan’s associates

The President, Muhamadu Buhari had sent a letter to the House in May 2020, requesting the approval of the House to borrow the loans.

However, the lawmakers, after approving the loan requested that the executive should send the terms and agreement of the loans to the House.

“That the terms and conditions of the loans from each Lender as contained in a duly executed Loan Agreements be forwarded to the National Assembly for proper documentation.”

READ ALSO >>> Abiodun, Amosun’s counter-claims on Ogun workers’ liabilities raise questions - Debt profile

READ ALSO >>> Reps to investigate fresh killings by ‘armed herders’ in Benue

HILARIOUS >>> WATCH Comedy Video: Twyse – My School Experience

READ ALSO >>> Makinde mandates Caretaker Chairmen to raise N495m for construction of new secretariat complex

LISTEN TO >>> Music : Olamide – Rock

WATCH >>> Comedy Video: Mr Macaroni – Who’s That Girl

READ ALSO >>> Download Music Video: EndSARS (Prod By Echobeatz)


For All Nigeria Past Questions Visit www.QUESTION.NG

Kindly share this post on different Social Media below


Tags:


COMMENTS

NOTE: User comments in this section are, as the name implies, provided by users of this website. The question.ng team is not responsible for, nor do they endorse, any of the information provided here.


NO POSTED COMMENT