By Nuel Suji – President Muhammadu Buhari has requested the approval of the Senate to borrow a total of $6.9 billion from China and World Bank.
Mr. Buhari’s request was contained in a letter read at Wednesday plenary by President of the Senate, Bukola Saraki.
The President said in the letter $5.8 billion would be borrowed from the Chinese EXIM Bank to fund the repair of railway transportation across the country.
The letter also explained that $1.1 billion will be borrowed from the World Bank for the rehabilitation of the North-East zone and other social security programmes.
