By Onuora Aninwobodo
President Muhammadu Buhari has asked the Nigerian Senate to approve another N2.3trillion ($6.18bn) external loan.
This is contained in a letter addressed to the President of the Senate Ahmad Lawan, and read at plenary on Tuesday.
Buhari said the proposed loan which is equivalent to N2.3trillion is to finance the 2021 budget deficit of N5.6 trillion.
The loan would enable the Federal Government to fund critical infrastructural projects in transportation, health, and education among others.
Buhari’s request is coming barely a month after the Senate approved the sum of $1.5bn and €995 million external borrowings for the Federal Government.
Earlier today, the Minister of Justice announced that the government of the United Kingdom has repatriated back to Nigeria, the sum of £4.2million that was looted by associates and family members of a convicted former governor of Delta State.
Mr. Abubakar Malami, SAN, confirmed receipt of the looted fund, in a statement he made available to newsmen in Abuja on Tuesday.
Malami, in the statement that was signed by his Special Assistant on Media and Public Relations, Dr. Umar Gwandu, disclosed that the money was credited into the designated Federal Government account, with the naira equivalent value of the amount as of May 10, 2021.