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Real reason President Buhari is asking for $29.9 loan

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Real reason President Buhari is asking for $29.9 loan

The Buhari Media Organisation (BMO) has revealed why President Buhari’s 29.9 billion dollar external borrowing request to the National Assembly for approval was in the interest of the country.

Buhari on Thursday sought the re-consideration and approval of the National Assembly on the 2016-2018 External Borrowing Plan of the Federal Government.

In a statement signed by its Chairman, Niyi Akinsiju, in Abuja on Sunday, BMO said the funds were necessary in order for the country to bridge the infrastructure gaps that were left unattended to by previous administrations in the country.

Akinsiju said if the requests had been fully granted in 2016, Nigerians would have seen more projects at various stages of completion across the country.

“President Buhari has made a bold move by sending back the 2016-2018 external borrowing plan to the National Assembly for reconsideration.

” Nigerians need to know that when the request was rejected by the 8th Assembly led by former Senate President Bukola Saraki and Speaker Yakubu Dogara in 2016, there was no debate on the merit or demerit of the plan.

According to him, power generation and transmission were also at a higher stage than what the administration met in 2015.

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