President Goodluck Jonathan Wednesday requested for immediate approval of $1 billion by the National Assembly to enable government tackle the Islamic insurgents, Boko-Haram in Nigeria.
The President in a letter addressed to the Senate explained that the money will be used to upgrade military equipment in Nigeria and also to enable the government to partner with other government.
It would be recalled that the due to the activities of the Boko-Haram insurgency, Federal government declared state of emergency in three North Eastern states of Borno, Yobe and Adamawa.
Jonathan in his letter the senators, underscored the need for the loan, saying, “you are in no doubt of the ongoing and serious security challenges which the nation is facing as typified by the Boko-Haram terrorist treat.”
In the letter dated July 15th, 2014, read on the floor by the Senate President David Mark, the president said the money will be used to upgrade the equipment of armed forces.
Stating, ” I would like to bring to your attention the urgent need to upgrade the equipment, training and logistic of our Armed Forces and Security services to enable them more forcefully confront this serious threat.
“For this reason, I seek the concurrence of the National Assembly for external borrowing of not more than $1 billion including government to government arrangement for this upgrade.
“While counting on the steadfast support of the distinguish members of the Senate as always, please accept the assurances of my highest regards.”
