The House of Representatives on Friday approved the $8,325,526,537 loan request by President Muhammadu Buhari.

The House also approved a separate €490 million loan request by the President.

The approvals came under the 2018 – 2020 External Borrowing (Rolling) Plan of the Federal Government; International Fund for Agricultural Development (IFAD)

These followed the consideration of the interim report of the Committee on Aids, Loans and Debt Management on the Proposed 2018-2020 external borrowing (Rolling) plan and the approval the recommendations therein.

The report was laid by its chairman, Hon Ahmed Safana.

The funding agencies according to the report are World Bank (WB) $796,000,000; China EXIM Bank $2,901,026,509; Industrial Commercial Bank of China $2,484,555,304; Africa Development Bank (AFDB) $104,200,000; Africa Growing together Fund (AGTF) $20,000,000; European ECA/KFW/IPEX/AFC $1,959,744,724; and Development (IFAD) 60,000,000 adding up the $8,325,526,537 sum.

The second loan of €490 million has the French Development Agency (AFD) €240,000,000 and the European Investment Bank €250,000,000 as its funding agencies according to the report.

President Muhammadu Buhari had in May, asked the National Assembly to approve the loan.

He had said the loan would enable projects listed under the 2018-2020 External Borrowing Plan to be financed.

Follow Our WhatsApp Channel _______________________________________________________________________

“Order Your Copy Now” — Basil Momodu, Esq. Unveils Second Edition Of His Book, "Civil Procedure In Nigeria"

According to the learned author, Basil Momodu Esq. "Law review is a continuum. We will continue to track changes in the law to enrich future editions." Recommended Booksellers: Lagos: 08033855230, Abuja: 08035991379, and others. _______________________________________________________________________

[A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials

“Evidence Act: Complete Annotation” by renowned legal experts Sanni & Etti.

Available now for NGN 40,000 at ASC Publications, 10, Boyle Street, Onikan, Lagos. Beside High Court, TBS. Email publications@ayindesanni.com or WhatsApp +2347056667384. Purchase Link: https://paystack.com/buy/evidence-act-complete-annotation

______________________________________________________________________ “Bridging Theory And Courtroom Practice” — Hagler Sunny Okorie, Nathaniel Ngozi Ikeocha Unveil ‘Functional’ Tort Law Book For Nigerian Legal System The book, titled The Law of Torts in Nigeria: A Functional Approach, authored by Professor Hagler Sunny Okorie Ph.D and Ikeocha, Nathaniel Ngozi Esq, offers law students, practitioners, and academics a comprehensive guide to understanding and applying tort law in Nigerian courts. Interested buyers can place orders via the following contact numbers: 08028636615, 08037667945, 08032253813, or +234 902 196 2209. ______________________________________________________________________ “Enhance Legal Practice With Authoritative Reports” — Alexander Payne Offers Comprehensive Law Reports, Spanning Over A Century Of Nigerian Jurisprudence

Interested buyers are encouraged to place their orders and enquiries via: 0704 444 4777, 0704 444 4999, 0818 199 9888 Website: www.alexandernigeria.com