President Buhari Borrowing N2.1trillion to Stabilize the Country

In a bid to stabilize the country due to prevailing realities, President Muhammadu Buhari, has dispatched a new supplementary appropriation bill for the 2015 fiscal year to the Senate for approval.

President Buhari, in a letter conveying his request, which was read on Wednesday during plenary by Senate President, Bukola Saraki, asked the Senate of the Federal Republic to grant his request to borrow the sum of N2.10 trillion to finance the budget and create stability.

He explained that the N882 billion loan earlier proposed by the past government to finance the budget had to be raised to N2.10 trillion, due to emerging realities in the country.

According to Mr President, the sources of the loan would be from both local and foreign.

OluFamous.Com gathered from credible sources in government that the request is to take care of subsidy, infrastructure and other matters requiring urgent attention in the country.