The Senate has approved President Tinubu’s Loan request of N1.767 trillion , equivalent to $2.209 billion for part financing of the N9.7 trillion budget deficit in the N28.7 trillion 2024 Budget .
This development comes 48hours after President Tinubu sent the request to the National Assembly for approval
Chairman of the Committee on Local and Foreign Debt , Senator Aliyu Wammako, submitted findings of his committee before the upper Legislative Chamber.
The committee was given only 24hours to consider Mr President request for approval.
The Committee’s findings revealed the funding plan for the loan will be through issuance of Eurobonds in the international Capital Market, debut sovereign Stock in the international Capital Market and Bridge Finance .
In another development , the Senate has passed the Conference Committees report on a Bill to Amend the National Drug Law Enforcement Agency ACT .
The contentious clause 11 which prescribes death penalty for Drug Offenders has been changed, and now proposes a life Sentence .
Also, following a motion by the Senate’s Chief Whip, Senator Tahir Monguno, the Senate has urged the Nigerian Armed Forces to establish armed camps at endangered local government areas In Borno State.
