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Senate Continues Consideration of External Borrowing Request

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Senate Continues Consideration of External Borrowing Request

Today, the Senate continued consideration of the Executive Communication from President Muhammadu Buhari, on the request to raise external capital of USD 2.786 Billion from the International Capital Market approved in the 2018 Appropriation Act and the external capital raising of USD82.54 Million to refinance the balance of USD500 Million matured Eurobond in the Capital Market.

The motion for consideration was moved by Senate Leader, Ahmed Lawan, and seconded by Senate Minority Leader, Biodun Olujimi.

The request was referred to the Senate Committee on Local and Foreign Debts, by the President of the Senate, Dr. Abubakar Bukola Saraki. The Committee is to report back to the plenary on Tuesday, October 16th, 2018.

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