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Wednesday, 7 June 2017

Acting President, Prof Yemi Osinbajo seeks NASS Approval $1.49bn loan for 10 states (Photos)

<img src=" Acting-President,-Prof-Yemi-Osinbajo-seeks-NASS-approval-$1.49bn-loan-for-10-states-(Photos) .gif" alt=" Acting President, Prof Yemi Osinbajo seeks NASS Approval $1.49bn loan for 10 states (Photos) > </p>


The Acting President, Prof Yemi Osinbajo has written to the Upper Legislative Chamber seeking approval for a foreign loan request for the sum of $1.49 billion to ten states of the federation for vital infrastructural projects.
The letters was read by the Senate President Bukola Saraki and Speaker of the House of Representatives respectively at Tuesday's plenary session.

The ten states seeking for the loan are Kano, Ogun, Abia, Ebonyi, Kaduna, Katsina, Jigawa, Enugu, Plateau and Ondo states. According to the respective state governors, the loan would be used for the provision of water, health, agriculture and infrastructural development.

The Acting President’s letter states that the funding is to be sourced from the African Development Bank, French Development Agency, World Bank and islamic Development Bank at low interest rates thus the request for approval so as to help the ten states seek for external financing of the critical projects.
Photo credit: Sumner Shagari Sambo

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