foreign debt

FG tries to assure Nigerians that the Nation’s sovereignty hasn’t been signed away to china in loan commitment

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  The Federal Government has lashed out at some Nigerians critical of the Muhammadu Buhari administration’s penchant for foreign loans, assuring the government has not signed away the nation’s sovereignty in loan commitment to China. Speaking to Daily Sun in Abuja, Minister of Works and Housing, Mr Babatunde Fashola, said that the government has always … [Read more…]

A financially sinking nation: Senate approves Buharis $8.3bn loan Amidst other foreign debts

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Senate, yesterday, approved President Muhammadu Buhari’s request for ongoing external loans to the tune of $8,325,526,537 and €490,000,000 under the 2018-2020 External Borrowing (Rolling) Plan. The approval followed the consideration of a report on the 2018 to 2020 External Borrowing (Rolling) Plan by the Committee on Local and Foreign Debt.       Chairman of … [Read more…]