President Buhari has sent a letter to the senate asking for permission
to borrow N2.10 trillion to finance the 2015 budget. In the letter which
was read at the senate's plenary session today November 18th, the
president stated that the N882 billion loan earlier proposed by the past
government to finance the budget had to be raised to N2.10trillion due
to the dwindling oil price and other economic realities. The source of
the loan, according to the president, would be from both local and
foreign.
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