L
LequteMan
Guest
President Goodluck Jonathan's request to borrow an additional $200m from the foreign market has been approved by Nigerian senators following the shortfall in revenue generation of the country, DailyTrust reports.
Excerpts:
The senate has approved the request of President Goodluck Jonathan to raise additional $200 million (N40 billion equivalent) Diaspora Bond from the international capital market.
President Jonathan had in a letter addressed to Senate President David Mark, on 4th February 2014, sought the approval to increase the initial $100 million earlier approved by the National Assembly as part of the 2012 - 2014 Borrowing Plan.
While presenting the report, Uzamere, said that his committee considered the Nigeria’s Medium Term Debt Management Strategy (2012-2015); The Debt Sustainability Analysis (2013); Fiscal Responsibility Act (2007); Debt Management Act (2003) and the 2014-2016 MTEF/FSP, to arrive at its submission.
This is the third time in less than one year that the Senate will be approving foreing loan request for the Jonathan administration.
click here to read more
#Nigeria #Jonathan
Excerpts:
The senate has approved the request of President Goodluck Jonathan to raise additional $200 million (N40 billion equivalent) Diaspora Bond from the international capital market.
President Jonathan had in a letter addressed to Senate President David Mark, on 4th February 2014, sought the approval to increase the initial $100 million earlier approved by the National Assembly as part of the 2012 - 2014 Borrowing Plan.
While presenting the report, Uzamere, said that his committee considered the Nigeria’s Medium Term Debt Management Strategy (2012-2015); The Debt Sustainability Analysis (2013); Fiscal Responsibility Act (2007); Debt Management Act (2003) and the 2014-2016 MTEF/FSP, to arrive at its submission.
This is the third time in less than one year that the Senate will be approving foreing loan request for the Jonathan administration.
click here to read more
#Nigeria #Jonathan
