President Muhammadu Buhari’s request, presented to the Senate, to raise a fresh loan of N850 bn from the domestic capital market to fund projects in the 2020 budget has been granted speedy approval.

The request was contained in a Presidential memo read by the Senate President, Ahmad Lawan on the floor of the Senate.

The upper chamber also mandated it’s Finance and Appropriation Committees to liaise with the Finance Minister to obtain more details of the loan request

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It will be recalled that President Muhammadu Buhari, earlier today, sought Senate’s approval to raise N850bn to fund 2020 capital budget.

This was contained in a Presidential memo read by the Senate President, Ahmad Lawan on the floor of the Senate.

Lawan read the letter immediately after the upper chamber emerged from about 3-hour closed session.

More details in a bit.