• $30bn loan request: Osinbajo, Saraki, Dogara meeting in Aso Rock

    $30bn loan request: Osinbajo, Saraki, Dogara meeting in Aso Rock

    Reports reaching ADELOVE have it that the Vice President, Yemi Osinbajo, the President of the Senate, Bukola Saraki and the Speaker of the House of Representatives, Yakubu Dogara, are currently in a meeting.

    The meeting is holding in the office of the Vice President at the Presidential Villa, Abuja.

    The parley may not unconnected to resolving the impasse arising from the Senate’s decision to reject President Muhammadu Buhari’s $30bn loan request.

    Also expected to be discussed is the 2016-2018 Medium Term Expenditure Framework.

  • $29.9bn loan request: Don’t mortgage our future – Falana tells Buhari

    $29.9bn loan request: Don’t mortgage our future – Falana tells Buhari

    A Senior Advocate of Nigeria, Femi Falana, said if President Muhammadu Buhari was serious about fighting corruption, he [Buhari] would not mortgage the future of the country by seeking a $29.9bn loan.

    Ever since the economy fell into recession primarily as a result of a significant drop in oil prices, the Federal Government has been looking for ways to get the economy back on track, including its recent application for a $29.9bn loan from external sources.

    Though the Senate rejected the loan […]

  • FG to represent $29.9bn loan request with detailed information – Minister

    FG to represent $29.9bn loan request with detailed information – Minister

    According to reports, the Minister of Information, Alhaji Lai Muhammed, on Wednesday said that President Muhammadu Buhari would reapply for the approval of $29.9 billion loan.

    The first request for external borrowing to fund critical infrastructural projects in the country between 2016 to 2018 was rejected by the Senate on Tuesday.

    But briefing State House correspondents at the end of the Federal Executive Council, (FEC) meeting, Mohammed said that lack of detailed information frustrated the approval of the first request sent to […]

  • ‘Buhari will resend $30 Billion loan request to Senate’, says Lai Mohammed

    ‘Buhari will resend $30 Billion loan request to Senate’, says Lai Mohammed

    President Muhammadu Buhari will resubmit the request for his administration to borrow $29.96bn to the Senate despite the setback it received on the floor of the Upper Chamber on Tuesday.

    Minister of Information and Culture, Alhaji Lai Mohammed, disclosed this to State House correspondents at the Presidential Villa, Abuja on Wednesday.

    Mohammed said the administration would continue to engage the Senators on the benefits inherent in the borrowing plan.

    He expressed the optimism that at the end of the day, the federal lawmakers […]

  • APC begs Senate to approve Buhari’s $29.9bn loan request

    APC begs Senate to approve Buhari’s $29.9bn loan request

    It was gathered that the South-East Chapter of the All Progressives Congress has appealed to the Senate to reverse its decision to reject President Muhammadu Buhari’s request to borrow N29.9bn.

    The Senate voted against the request on Tuesday.

    However, the South-East APC is begging the lawmakers to reverse the decision.

    In a statement signed by its publicity secretary, Mr. Hyancinth Ngwu, and made available to journalists in Enugu, the APC in the South-East equally condemned the rejection of the proposed loan.

    “The All Progressives […]

  • Senate rejects Buhari’s $29.9bn loan request

    Senate rejects Buhari’s $29.9bn loan request

    It was gathered that the Senate on Tuesday declined consideration of the request of President Muhammadu Buhari seeking approval to source $29.9 billion loan as part of the 2016 – 2018 External Borrowing Plan.

     

    The request which was introduced for consideration by the Leader of the Senate Ali Ndume and seconded by Sen. Emmanuel Bwacha, was rejected by majority of the senators present.

    When the question was put to commence the consideration of the request senators answered in the negative, rejecting the […]