From Elohor Igbru, Abuja
President Buhari must be in cloud nine today. Reason: The Senate on Wednesday approved a new set of foreign loans to fund his legacy projects.
The Senate approved the sum of $16,230,077,718, €1,020,000,000 and a grant of $125,000,000 as foreign loans for the administration to fund its legacy projects.
The red chamber specifically approved the issuance of €500,000,000 from the Bank of Industries and €750,000,000 Eurobond in the International Capital Market.
But the Senate also asked the President to forward the terms and conditions of the loan from the funding agencies to the National Assembly.
The Senate gave the approval following the consideration of the report of its Committee on Local and Foreign Debts, chaired by Senator Clifford Ordia.