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Security Men Did Nothing Despite Earlier Warning, Alarm Gani Adams
~0.3 mins read
Gani Adams, the Aare Onakakanfo of Yorubaland, on Saturday, reacted to the latest attack on residents of Igangan in Ibarapa area of Oyo State.
Adams warned that Yorubas can no longer lament over the killings in Yorubaland.
(Photo Credit: Daily Post)
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Senate Approves Buhari's N2.3Tr Loan Request
~0.9 mins read
The Senate, on Wednesday, approved the request of President Muhammadu Buhari to borrow N2.3 trillion (about $6.183 billion) to fund the deficit in the 2021 Appropriation Act.
This followed the consideration of the report of the Committee on Local and Foreign Debts, chaired by Senator Clifford Ordia (PDP, Edo).
Buhari had, in May, sought the approval of the National Assembly to source the fund from multiple avenues, including multilateral and bilateral lenders, as well as the International Capital Market (ICM) via issuance of Eurobonds.
“We estimate that Nigeria may be able to raise $3 billion or more, but not more than $6.183 billion (the amount provided in the 2021 Appropriation Act) in a combination of tenors between five and 30 years,†Buhari had said.
According to the president, the outcome would be determined when the nation approaches the market, noting that “not only is the ICM now open to issuers like Nigeria and interest rates lower than the levels In 2020, given the recent monetary policy stance, as well as rising levels of inflation, the level of liquidity in the domestic market has decreased while domestic interest rates are beginning to rise.â€
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