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By Henry Umoru, ABUJA

THE Senate on Wednesday approved President Muhammadu Buhari’s External Borrowing (Rolling) plan for the Federal Government to the tune of $16,230,077,718, €1,020,000,000 and a grant component of $125,000,000.00 under the 2018-2020 External Borrowing (Rolling) plan” for the Federal Government.

Senate’s approval was sequel to the consideration of the report of the Senate Committee on Local and Foreign Debts.

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The report was presented by the Chairman of the Committee, Senator Clifford Ordia, PDP, Edo Central during the plenary. 

The recommendation of the Committee: “That the Senate does approve the under listed ongoing negotiation of external borrowing in the sum of $16,230,077,718,  €1,020,000,000.00 and a grant component of $125,000,000.00 under the 2018-2020 External Borrowing (Rolling) Plan” was approved by Senators when it was put to a voice vote by Senate President Ahmad Lawan at plenary. 

Details later…

Vanguard News Nigeria