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President Bola Tinubu has written to the Nigerian Senate, seeking approval of a fresh 2.2billion dollars as a new external borrowing plan in the 2024 appropriation act.
The president’s request was read by President of the Senate Godswill Akpabio during plenary.
If approved, the loan will be used to part-finance the budget deficit of N9.7tn for the 2024 budget.
President Tinubu also transmitted the Medium-Term Expenditure Framework and the Fiscal Strategy Paper (MTEF/ FSP) 2025- 2027 to the parliament for consideration and approval.
Also forwarded was the National Social Investment Programme establishment amendment bill, to make the social register the primary tool for the implementation of the federal government’s social welfare programmes
President Tinubu also sought confirmation of three nominees as Commissioners for the Independent National Electoral Commission (INEC).
Source: Swifteradio.com