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Senate Approves Buhari’s External Loan Request

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Senate Passes 2022 Budget

Tobi Adebayo 

The Senate has granted the $22.7bn external loan request by President Muhammadu Buhari to fund critical infrastructure projects under the 2016 – 2018 External Borrowing Plan.

The approval was given after a heated debate that ended up in closed session that lasted for 30 minutes.

The Minority Leader, Senator Enyinnaya Abaribe had raised a point of order, saying that it would be necessary to subject the various components of the loan to voting, especially the amounts and the lending countries.

“We are going to pass a loan of $22.7billion for which we are being denied the privilege to express our reservations. You are putting us in a very impossible position, Abaribe told Senate President, Ahmad Lawan.

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“There are some aspect of this loan that we object to. I want to ask on behalf of our colleagues here that we take these items one by one and vote on them.”

“I want to quote one popular saying that he who goes a borrowing, goes a sorrowing,” Abaribe said.

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