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Senate approves President Buhari’s $1.5bn, €995m external loan requests

APC crisis: Buhari, Lawan meet in Aso Rock

The Senate on Wednesday approved $1.5billion and €995million external loan requests from President Mohammadu Buhari. The approval was sequel to the consideration of the report of the Senate Committee on Local and Foreign Debts presented by its Chairman, Sen. Clifford Ordia (PDP-Edo) during plenary. The president had in May 2020 sent a letter to the
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China befriends African continent with debt

Why we have problems with public debt — ICSAN

By Elizabeth Adegbesan The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) has advised the government to tie its borrowings to specific projects in order to boost infrastructure development in the country. The Institute also enjoined the federal government to provide incentives to boost local production of petroleum products in order to secure the
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We borrowed $2.5bn from China for Lagos-Ibadan rail, says Amaechi

We borrowed $2.5bn from China for Lagos-Ibadan rail, says Amaechi

The Minister of Transportation, Rotimi Amaechi, has said the Federal Government borrowed about $2.5 billion for the construction of the Lagos-Ibadan rail line. Amaechi, who stated this in an interview on Channels Television’s Newsnight on Monday night, said:  “If you look at the whole total cost, it will be $2.5 to $2.6 billion that we have borrowed from China Exim Bank.”

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