Unic Press UK: Nigerian Senate at plenary adopted a report of the Committee on Local and Foreign Debts on the Federal Government External Borrowing to finance the proposed revised 2020 Budget, thereby approving the Buhari administration’s revised 2020 budget and a request to borrow an additional $5.51 billion from foreign institutions.
The recommendations of the Committee on Local and Foreign Debts on the Federal Government External Borrowing to Finance the proposed revised 2020 budget are APPROVED.#TodayInSenatePlenary
— The Nigerian Senate (@NGRSenate) June 2, 2020
The Buhari administration had last week presented to the lawmakers’ a revised 2020 budget in light of the economic challenges triggered by the COVID-19 pandemic.