House of Representatives revealed this after giving the nod to the president’s request to approach the China Development bank for the loan.
The motion for the legislative chamber to amend its resolution titled: Rescission of the 2016–2018 Federal Government External Borrowing (Rolling) Plan was moved by the Chairman of the House Committee on Rules and Business, Abubakar Fulata granting approval to the failed commercial deal.
Fulata revealed the earlier agreement with China-Exim bank failed due to the withdrawal of the bank following the outbreak of the COVID-19 pandemic.
