The Debt Management Office (DMO) said President Muhammadu Buhari’s request for N2.343 trillion new borrowing was already captured in the 2021 budget.
The DMO made the clarification in tweets on Tuesday following Buhari’s request to the National Assembly to approve the new borrowing to fund critical capital projects in the 2021 budget.
The News Agency of Nigeria (NAN) reports that Senate President Ahmed Lawal presented Buhari‘s request to the senators at plenary on Tuesday.
DMO explained that proceeds of the loan were to be deployed to capital projects in various sectors of the economy.
“President Muhammadu Buhari has recently written a letter to the National Assembly requesting for the approval, by resolution of N2.343 trillion new external capital raising.
“The proposed new capital raising is the New External Borrowing already provided for in the 2021 Appropriation Act.
“It will be recalled…
Source: Guardian Newspaper