President Muhammadu Buhari Solicits For $5.513bn Loan To Be Approved By Lawmakers.

National Assembly in confusion over revised budget loan.

The President of the Federal republic of Nigeria, Muhammadu Buhari has once again written to the senators for the approval of $5.513bn loan to finance the revised 2020 budget. Senate president Ahmed Lawal meticulously revealed the ideal interest of the president by reading out the letter to the hearing of the entire house on Thursday. According to the letter, the President claimed that his decision is based upon the devastating impact of Covid-19 on crude oil, slump in oil prices and irressistable forces in declining demand. Moreover, the senators are hereby endeared to review the letter and give an expedited consultation to the 2020-2022 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper.