JUST IN: Senate approves Buhari’s request to borrow $5.5bn

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The senate has approved the $5.5 billion loan request of President Muhammadu Buhari.

Buhari had asked the upper legislative chamber for the approval to borrow $2.5 billion to finance the 2017 budget and $3 billion to refinance domestic debts.

The lawmakers approved the president’s request after the senate’s committee on local and foreign debts presented its report on Tuesday.

More to follow…

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