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$29.9billion Borrowing: FG To Go Ahead Despite Senate Rejection – Sen Ita Enang

Published

7 years ago

December 12, 2016

The Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang has explained that the federal government will go ahead with the $29.9billion borrowing plans despite Senate’s rejection.

Giving clarification on Senate’s stance, Ita Enang explained that theSenate needed some information that were strategic to the borrowing plans which the budget office was already working on it.

“What is happening is that there are strategic information that should be made available to them before considering it and the DG,Budget was already working on it”, he noted.

Enang was optimistic that the Senate would approve the loans as soon as all necessary information were made available.He added that the Senate understands that economic recession confronting the nation deserves sincere approach, while insisting that the proposed external borrowing of the President would properly fund the budget in the interest of National development.

“who will borrow out such amount of money to a country that has five different exchange rates”(in worlds of Emir Sanusi)