Senate okays fgs 22 7bn loan plan as lawan abaribe spar
It seems like you're referring to a recent development in the Nigerian Senate. Here's a summary of the situation:
Breaking News: Senate Approves FG's N22.7bn Loan Plan
The Nigerian Senate has approved a loan plan of N22.7 billion (approximately $57 million) proposed by the Federal Government to finance various projects. The loan was approved after a debate and voting by senators.
Lawan and Abaribe Clash
However, the approval was not without controversy. Senate President Ahmad Lawan and Senator Enyinnaya Abaribe, a member of the opposition Peoples Democratic Party (PDP), clashed during the debate. Abaribe opposed the loan, citing concerns about the country's debt profile and the lack of transparency in the loan agreement.
Key Points
- The loan is intended to finance projects in the areas of infrastructure, agriculture, and social services.
- The loan is to be sourced from the World Bank and other international financial institutions.
- The Senate approved the loan after a debate and voting, with 52 senators in favor and 28 against.
- The loan is expected to be repaid over a period of 20 years.
Reactions
The approval of the loan has sparked mixed reactions from Nigerians, with some welcoming the move as a step towards addressing the country's infrastructure challenges, while others have expressed concerns about the country's debt profile and the potential risks associated with borrowing.
What do you think about this development? Should the Federal Government be allowed to borrow more money to finance its projects? Share your thoughts!