Senate Approves Jonathan’s $1Bn Loan Request

The Nigerian Senate has approved President Goodluck Jonathan’s request for a loan of $1 billion to tackle insecurity in the country. The upper legislative chamber gave its approval this Thursday after Ahmed Makarfi, chairman of the Joint Committee on Finance, Local and Foreign Debt presented the Committee’s report. In the report, the Committee recommended that the Senate approve the request so as to aid the war against insurgency in the country.

Even though some senators stressed the need to follow guidelines on borrowing, Makarfi and David Mark, the Senate President, urges the senators to be mindful of the security implications of the request. The Senate President then put the request to vote and after a debate, the request was eventually approved.

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