Stella Dimoko Senate Approves Buhari’s $5.5 Billion Foreign Loan Request


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Tuesday, 14 November 2017

Senate Approves Buhari’s $5.5 Billion Foreign Loan Request

The Senate on Tuesday approved a $5.5 billion external loan request by President Muhammadu Buhari.

The president had in a letter on October 10 requested the Senate to approve $3 billion external loan and $2.5 billion Eurobond or Diaspora bond in the international market.

Mr. Buhari explained that the bonds would be channelled towards funding the 2017 budget while the loan would be used in refinancing maturing domestic debts.

Based on the Senate’s resolution, the Committee on Local and Foreign Debts on October 19 invited the Minister of Transportation, Rotimi Amaechi, and some other members of the executive to explain the benefits of the loan.

Presenting report of the committee, Shehu Sani, Kaduna-APC, said the projects listed for the loan would stimulate economic development and create direct and indirect jobs for Nigerians.

He added that the $2.5 billion will create more borrowing space for the private sector.

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mamalette said...

Is this not the same loan that the minister of finance says will take Nigeria 30 years to repay? Why does Buharia take pleasure in dragging us backwards? Why just why?

anonymous to bahd said...

To finance 2017 budget? Where will funds to finance 2018 budget come from? What did the Executive offer the Legislature in return for this dubious approval of indirect and continued enslavement of Nigerians? Why haven't we heard any interim report on 2017 budget performance as at November 2017? How much have our income generating agencies(Customs, Immigration, FIRS, NNPC & its hundreds of subsidiaries, NIMASA, NPA, Airports, mining, SON, NDLEA, NAFDAC etc) made from year to date? The local debts, what periods where they incurred and what services/projects/goods were rendered/supplied? Are the debt Naira or Dollar denominated? What specific projects are earmarked to be executed from the borrowed funds? Who and who are the Private sector who'll benefit from $2.5B "borrowing space" the debt will create? Aside the bond, what rate is the other bulk of debt acquired? What tenor? Are we paying back via cash or produce? Is there a broker? If yes, who? Is there a fee for the broker? If yes how much? Aside the bond who are the other lenders?


Do you see why its only the kingdom that Christ told us to pray for that'll bring lasting solutions to our problems and not any man made government? Do you see why Daniel 2:44 says God's kingdom will destroy all these existing ones?

I need a drink! Una no go kii me!

same girl said...

With all the recovered money?

anonymous to bahd said...

Well, Dem tok say the recovered loot can't be spent yet because they haven't won any case against the looters in court. Technically, the loot serves as evidence

Anonymous said...

Money for the next election
Time to share it among the "politrical" jobbers.

Nemerem said...

Too many questions dear, but no one (in gov't) brainy or concerned enough to answer them. I just pity the future generation, dey go just born them into gbese.
Thanks for this.

anonymous to bahd said...

I can confidently sneak in here and rant privately (lol!) without fear of anyone besides blog admin seeing this.

I'm sad, like deeply. We waged a moral war to ask Stella to intervene and moderate the vulgar and often extreme sexual comments of some BVs. We who campaigned are NOT saints o! You'll shudder if I tell you the habits and addictions I battle with daily. It's just that we need to maintain a certain level of decorum and decency, you know? No be say we holy pass.

Thanks again Stella for listening 😚.

So why am I sad? The ila otu gang had many supporters. In fact the comments went through the roof supporting those BVs and castigating the rest of us. Live and let live. So much noise and opinions, hundreds upon hundreds of comments and blog fights and insults. Questions, answers.

And here, Nigeria is about to borrow $5.5Billion, that's almost 2 Trillion naira, money customs alone can generate, and we have 3 comments. 3! Where are the ila otu gang members? Is our country and the future of our children less important than our freedom to say vulgar things?

That's why I'm sad. We misuse social media. The government monitors and takes the pulse of the youth and nation in general. They do not read dissentions and counter opinions on how they rule, they see us fighting and commenting over vulgarity and naked celebs and nip-slips. Not you o Stella.

So. That's why I'm sad. And when I'm sad like this I drink.

Good night.

NKAY said...


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