PRESIDENT MUHAMMADU BUHARI WRITES SENATE SEEKING APPROVAL FOR EXTERNAL BORROWING TO FINANCE 2021 BUDGET DEFICIT
Written by Boom Radio on May 18, 2021
President Muhammadu Buhari have sort through a letter read by the Senate President, Ahmad Lawan, during the resumption of plenary today asking for a Resolution of the National Assembly for the implementation of the external borrowing of 2.18 billion dollars in the 2021 Appropriations Act.
According to the letter President Buhari stated that the borrowing is to enable the federal government fund critical infrastructural projects in health, education and other sectors.
The proposed loan which is equivalent of N2.3 trillion if approved would be used to finance the 2021 budget deficit of N5.6trillion.
Also, during today’s plenary the Federal Ministry of Education have been urged to compel the Joint Admissions and Matriculation Board -JAMB and the National Identity Management Commission -NIMC to review the implementation of its policy that makes the National Identification Number -NIN mandatory for JAMB registration.
The Senate also appealed for the extension of the JAMB registration deadline until there is a seamless and well-organized process for obtaining the NIN.
These resolutions of the upper chamber followed a motion on the floor by Senator Ifeanyi Ubah, at plenary.