Buhari seeks fresh national assemblys nod to borrow 29 96bn

It appears that President Muhammadu Buhari has requested the National Assembly's approval to borrow an additional N29.96 billion.

Here's a breakdown of the story:

• The President has written to the National Assembly, seeking approval to borrow the sum of N29.96 billion to finance various projects and programs in the country.
• The loan is said to be a fresh request, as the President had earlier requested approval for a loan of N895 billion, which was approved by the National Assembly in 2020.
• The new loan request is said to be for the 2022 budget, and it is expected to be used to finance various projects, including infrastructure development, healthcare, education, and other social services.
• The National Assembly has not yet taken a decision on the loan request, and it is expected that the lawmakers will scrutinize the request and consider the implications of borrowing more money for the country.

It's worth noting that Nigeria is already heavily indebted, and borrowing more money can have significant implications for the country's economy and the ability to repay debts. Therefore, it's essential for the National Assembly to carefully consider the loan request and ensure that it is in the best interest of the country.

What do you think about this development? Should the National Assembly approve the loan request, or should the government explore other options to finance its projects and programs?