The Senate has approved the $22.7bn external borrowing plan of the federal government after an emergency closed-door session.
President Buhari had requested for the loan to fund critical infrastructure projects under the 2016 – 2018 External Borrowing Plan.
The process of approving the loan by Senators, however, led to a debate in the upper chamber as some senators approved it while some opposed it and demanded the details of the projects to be funded with the money. This disagreement forced the Red Chamber into a closed-door session, which lasted about 30 minutes.
Afterwards, the lawmakers approved the two-item recommendation of the Committee on Local and Foreign Loans.