President Muhammadu Buhari has asked the Senate to approve $5.5billion external loan.
The loan is part of the 2016-2018 External Borrowing Plan of the Federal Government and is meant to finance the 2017 budget.
In a letter read on the floor at Tuesday plenary by Senate President Bukola Saraki, the President, however, pointed out that the terms and conditions of the borrowing are unknown.
The document dated October 4, 2017 explained that the terms and conditions of the loan can “only be determined at the point of issuance”.
Details later….
