Senate has
approved the $1 billion loan requested
by President Goodluck Jonathan to
tackle terrorism and insecurity in Nigeria
Some
lawmakers had argued that President Jonathan breached the process set down by
the Constitution for requesting extra budgetary funds, but the Chairman, Senate
Committee on Finance, Senator Ahmed Makarfi, said President Jonathan is in full
compliance of the law on this matter.
President
Jonathan had written a letter asking the Senate in July to approve a $1 billion
(about N 165 billion) loan for the fight against Boko Haram.
The President
said he needed the money to upgrade military equipment and for training as well
as logistics for the Armed Forces.
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