Finally Senate Approve Buhari’s $22.7bn Loan Request Rejected By Saraki

The Nigerian Senate has approved President Muhammadu Buhari’s request to borrow $22.7 billion- a request which was rejected by the 8th Senate under the leadership of Bukola Saraki.

The president had sent the same request to the eight Senate in 2016. He had requested about $30 billion but the then lawmakers, however, rejected the request as majority voted against it when it was brought for consideration.

However, the request which was re-submitted by the president in 2019 was okayed by the upper legislative chamber on Thursday amid objections from some senators.

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While the matter was being debated, Enyinnaya Abaribe, minority leader, warned against considering all the recommendations on the loan at once.

He suggested that it should be done “item by item”, but Senate President Ahmad Lawan disagreed with him.

Subsequent debate on the matter forced the senate into an executive session during which it agreed to approve the request.

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