Some members of the House of Representatives have questioned President Muhammadu Buhari’s request for a $29.9 billion loan from foreign financial institutions.
Following the rejection of the request by the Senate, the lawmakers demanded for details of the loan from the Executive, to enable them appreciate the need for the loan.
Some of the members of the House who queried the request for the loan on Wednesday were Johnson Agbonayinma, Animu Suleiman and Nnenna Elendu-Ukeje.
The legislators said that despite the good intentions of President Buhari, they have reservations about his team.
Considering the development, analysts say it is not clear yet when the House of Representatives will consider the President’s request.
They, however, noted that the issue must be quickly resolved as it had implications for the 2017 budget, which is yet to be presented to the National Assembly by the Executive.
President Buhari said that the projects cut across agriculture, health, education, and water supply.
The matter went into a voice vote when it was brought forward and the nays had it.
The senators turned down the external borrowing request due to what they called “lack of documents supporting the request as referenced in the letter”.
