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Senate Rubbish El-Rufai, Rejects $350m Loan Request

764 views · Published 29 March 2018 · 4:02 · Indexed 10 October 2026

Channel: Viable Tv · 2018 · News & Politics

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The Nigerian Senate has thrown out plans by the Kaduna State Governor Malam Nasir El-Rufai to borrow $350 million dollars loan from the World Bank. 

The Upper legislative Chamber in a unanimous vote killed the request when the chairman Senate Committee on Local And Foreigh Debts Senator Shehu Sani asked the Senate to receive a‎nd consider the report of the Committee on the Kaduna State Development Policy Operation Credit Facility of $350m from the World Bank. 

The three Senator from the Kaduna State apart from the resolution of the Committee were in agreement that the recommendation of the committee should be upheld. 

Senator Shehu Sani had while giving reasons as to why the loan should be rejected noted that the loan obtained by the state since 1990 till now was $232 million, adding that if approved, the additional $350 million will bring the state's debt profile to $582 million.

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