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Confusion in Nigeria over Buhari’s N850 billion loan request seen as “fresh loan” but described by senate as “amended loan”

Simon Ateba by Simon Ateba
April 30, 2020
President Buhari at the 29th Forum of Heads of State and Government of Participating States of the African Peer Review Mechanism (APRM) at the AU Summit in Addis Ababa on 8th Feb 2020|Sowore hit

President Buhari at the 29th Forum of Heads of State and Government of Participating States of the African Peer Review Mechanism (APRM) at the AU Summit in Addis Ababa on 8th Feb 2020|Activist Omoyele Sowore hit during protest in Abuja

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Simon Ateba
Simon Ateba( Chief White House Correspondent )

Simon Ateba is Chief White House Correspondent for Today News Africa. Simon covers President Joe Biden, Vice President Kamala Harris, the U.S. government, the United Nations, the International Monetary Fund, the World Bank and other financial and international institutions in Washington D.C. and New York City.

The Nigerian Senate had approved President Muhammadu Buhari’s request to borrow N850 billion externally. But after the IMF approved $3.4 billion loan or N1.3 trillion loan for Nigeria, the senate amended the former request to say the N850 billion would now be sourced internally.

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