Buhari asks Reps to approve $30 billion borrowing plan

President Muhammadu Buhari, on Thursday, asked the House of Representatives to approve the 2016/2018 external borrowing plan.

His request was declined by the national assembly in the 8th senate.

President Buhari in a letter read on the floor of the House during the resumption of plenary on Thursday said a speedy approval of the plan will enable the government to fund some of the projects listed in the plan.

He said only the North East development plan and the China Exim bank funded Lagos to Ibadan rail line were approved by the 8th Assembly.

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Buhari explained that the remaining projects that were not approved are important to government policies and programmes as they relate to power, education, agriculture, education among others, The Nation reports.

He said the projects to be funded under the borrowing plan were approved by the Federal Executive Council in August 2016 under the 2016 external borrowing plan.

He informed the House that he has directed the Minister of Finance to make herself available to provide necessary clarifications that may be needed for the House to pass approve the plan without delay.