Buhari Writes Senate, Requests Additional $500m Eurobond
President Muhammadu Buhari[/caption]
President Muhammadu Buhari has written the National Assembly seeking the approval of $500 million Eurobond to finance capital projects in the 2017 Budget.
Senate President, Bukola Saraki, disclosed this during Senate plenary on Wednesday, as he read a letter signed by Vice President Yemi Osinbajo for a resolution from the legislators to secure the bond.
Recall that the Senate in January approved a $1 billion Eurobond request by Buhari to finance the 2016 Budget and stimulate the country’s economy.
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The deal on the bond was reportedly reached following a meeting between Osinbajo, Saraki and the Speaker of the House of Representatives, Yakubu Dogara.
President Buhari is still yet to submit details of the proposed $29.9billion loan request after it was rejected by the National Assembly late last year.
