Recall that former President Muhammadu Buhari had, towards the tail end of his administration, forwarded same request to the 9th Senate in May. However, the 9th Assembly could not consider the request before its tenure ended in June 11.
In a letter read by Senate President Godswill Akpabio during plenary on Thursday, July 13, President Tinubu asked the 10th Senate to approve the borrowing request. He told the lawmakers that the loan would be used to scale up the National Social Safety Net Programme.
“Please note that the federal executive council led by President Muhammadu Buhari approved an additional loan facility to the tune of $800 million to be secured from the World Bank for the National Social Safety Net programme. Copy of FEC’s extract attached.
