House of Representatives approve President Buhari loan request

House of Representatives has approved the restructuring of one trillion naira to fund last year’s supplementary budget.

Committee of Supply approved the request for President Muhammadu Buhari to get the loan from the Central Bank of Nigeria, CBN.

The approval takes the entire Ways and Means loan stock to twenty-three point seven trillion.

National Assembly had last year approved the eight hundred and fifteen billion naira supplementary budget which President Buhari said will be funded by new domestic borrowing.