The President has asked the National Assembly to approve his decision to borrow an additional $500m Eurobond to finance capital projects.
President Muhammadu Buhari
President Muhammadu Buhari has written to the National Assembly seeking for another $500 million Eurobond to finance capital projects in the 2016 Budget, Daily Sun reports.
This was revealed, on Wednesday, during the Senate’s plenary. It would be recalled that the Senate had earlier in the year approved a $1 billion Eurobond requested by Buhari, also for the financing of the 2016 Budget.
Vice President Yemi Osinbajo, had requested for the same amount while his boss was away on vacation.