Senate defends approval of $30bn for president Buhari

Written by  December 01 2019 font size decrease font size increase font size 0
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The National Budget Office has defended the approval of the thirty billion dollars sought by President MUHAMMADU BUHARI from the Senate.

Director-General of the National Budget Office, BEN AKABUEZE while speaking on the President’s request said the advantage is that the funds are tied to capital expenditure.

AKABUEZE also said the Budget Office has carried out series of analysis that will ensure a sustainable refund plan of the funds. 

Director-General of the National Budget Office, BEN AKABUEZE also said Nigeria can only run into trouble in her debt management if the country fails to increase its revenue drive.

According to President MUHAMMADU BUHARI’s REQUEST, the external loan is to execute key Infrastructural projects across the country including; the East West Road, Mambilla Hydro Power Station, Dualization Of Suleja-Minna Road, Standard guage Ibadan-Kano Rail line, Calabar-PH-Aba-Makurdi-Bauchi-Maiduguri Rail Line and the Dualization of Ibadan-Ilorin-Jebba Road

Others are; 2,500 KM Power Transmission Lines and Power Transformers across Nigeria, Funding and Upgrades of eighteen Federal Universities, Total Overhauling Of Ajaokuta Steel Company as well as the Dualization of Lokoja-Okene-Auchi-Benin Road.

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