By Jemimah Wellington, JKNewsMedia Reporter
THE NIGERIAN Senate has approved President Bola Tinubu’s request for a $2.2 billion loan to help finance the ₦9.7 trillion deficit in the 2024 budget.
The approval came after the Senate Committee on Local and Foreign Debts, led by Senator Aliyu Wamakko, presented its report during plenary on Thursday.
Senate President Godswill Akpabio read a letter from the president outlining the loan’s critical role in the government’s fiscal strategy for the coming year.
The loan, valued at ₦1.77 trillion, was already part of the external borrowing plan for the 2024 fiscal year.
The Senate’s prompt action followed a directive from Akpabio for the committee to expedite the review process.
Initially, the deadline for the committee’s report was set for Wednesday, but the committee delivered its findings just in time for Thursday’s plenary.
Vice President Kashim Shettima is leading a meeting of the National Economic Council at the Presidential Villa in Abuja.
The meeting, which began at 11:02 GMT, includes governors, deputy governors, and key ministers.
The agenda is to review the nation’s economic performance and discuss strategies for future economic growth.
Edo State Governor Monday Okpebholo, attending his first meeting since his swearing-in 10 days ago, was invited to lead the opening prayer.
