The House of Representatives yesterday approved President Muhammadu Buhari’s request to secure an additional N1 trillion loan from the Central Bank of Nigeria (CBN).
The fund is to enable the government to fund the N815 billion 2022 Supplementary Budget, which brings the entire Ways and Means loan stock to N23.7 trillion.
The lawmakers approved the request on Tuesday following the consideration and adoption of the committees on finance, banking and currency, and aids, loans and debts management.
They however deferred the request to securitise the N22.7 trillion ways and means loans, pending “further engagement with the executive by the joint committee to allow for a thorough and detailed work and submissions.”
Speaker of the House, Femi Gbajamialia, said the N22.7 trillion request would be considered after the lawmakers resume from recess.
The lawmakers subsequently adjourned to February 28.
The N22.7 trillion request would be considered after the lawmakers resume from recess.
