$30 billion loan rejection won’t affect 2017 budget- Presidency


The Presidency on Wednesday said the rejection of the proposed $29.96bn external borrowing plan of President Muhammadu Buhari-led administration by the Senate would not affect the implementation of the 2017 budget.

The Special Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang, said this while addressing journalists in Abuja.

Buhari request for legislative approval for the Federal Government external borrowing plan for the execution of projects from 2016 to 2018 had suffered outright rejection at the Senate on November 1, 2016.

The President had written to both chambers of the National Assembly, asking the legislature to approve the borrowing plan for the execution of key programmes and infrastructural projects across the country. Enang, however, said the 2017 budget would be successfully implemented without the loan.

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