Reps suspend buharis 22 79bn loan consideration indefinitely

It appears that the Nigerian Senate has suspended the consideration of a loan request of N22.79 billion by President Muhammadu Buhari's administration indefinitely.

Here's a breakdown of the news:

• The loan request was made by the Federal Government to fund various projects, including the construction of roads, bridges, and other infrastructure.
• The Senate had initially scheduled the consideration of the loan request for Tuesday, but it was suspended indefinitely due to concerns raised by some lawmakers.
• The lawmakers expressed concerns about the lack of transparency in the loan request, as well as the potential risks and implications of taking on more debt.
• The Senate President, Ahmad Lawan, announced the suspension of the consideration of the loan request, citing the need for further scrutiny and consultation with relevant stakeholders.

This development is significant because it highlights the ongoing debate in Nigeria about the country's debt profile and the need for transparency and accountability in government spending. The Nigerian government has been criticized in the past for taking on too much debt, which has raised concerns about the country's ability to service its debt obligations.

It remains to be seen how this situation will unfold, but for now, the consideration of the loan request has been put on hold pending further review and consultation.