President Muhammadu Buhari plans states plans he has for the fresh external loans he requests from the National Assembly

A standard gauge rail being planned from Kano State in Nigeria to Maradi in Niger Republic is one of the projects the President Muhammadu Buhari plans to fund with the fresh external loans he is asking the National Assembly to approve for his regime.

Recall that, Buhari had asked the National Assembly to approve fresh external loans of $4.054bn and €710m ($839m) for his regime.

Buhari,  in the letter, dated August 24, 2021, explained that the projects listed in the 2018-2021 Federal Government Borrowing Plan would be financed through sovereign loans from the World Bank, French Development Agency, EXIM Bank International Fund for Agricultural Development, Credit Suisse Group and Standard Chattered/China Export and Credit in the total sum of over $4B and €710m (839m) and grant components of $125m.

CC: PUNCH

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