• About
  • Advertise
  • Careers
  • Contact Us
Tuesday, July 1, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Economy Finance

National Assembly Approves Buhari’s $800m Loan Request

by Justice Godfrey Okamgba
May 19, 2023
in Finance
0
Buhari assents to Bills
President Muhammadu Buhari

President Muhammadu Buhari

UBA
Advertisements

According to Abubakar Yunusa Ahmad, a member of the House of Representatives Committee on Loans, Aids, and Debt Management, federal lawmakers have given their approval to President Muhammadu Buhari’s request for a $800 million loan.

Ahmad shared this information during a live interview on Channels Television’s Sunrise Daily.

However, Ahmad expressed his belief that the current loan would not be utilized by the current administration.

He suggested that the incoming government might adopt a different approach to utilize the funds. Ahmad stated, “The $800 million—there were extensive discussions within the loan committee, and we advised them.

‘First, leave this matter to the incoming government.’ But since the loan has been granted, we can accept it. If we cannot utilize it, perhaps the incoming government will have a different strategy.”

He also hinted at a potential change in the government’s approach, as there were rumors circulating on social media about the incoming government’s intentions not to retain any of President Buhari’s ministers, citing underperformance.

Ahmad clarified that although the loan has been approved, it will not be utilized by the current administration. The utilization of the loan will depend on the incoming government and their plans.

Recall President Buhari had previously written to the Senate seeking permission to secure an $800 million loan from the World Bank, aimed at mitigating the impact of subsidy removal.

The loan is part of the government’s subsidy palliative measures, which aims to assist 50 million vulnerable Nigerians or 10 million households.

Loading

Advertisements
MTN ADS

Author

  • Justice Godfrey Okamgba
    Justice Godfrey Okamgba

    View all posts
0Shares
Tags: BankslAWMAKERSloan
Justice Godfrey Okamgba

Justice Godfrey Okamgba

Next Post
Women in tech

Standard Chartered Launches 4th Women In Tech Programme

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Cashwise Finance Launches to Disrupt $20 Billion Remittances Market

Cashwise Finance Launches to Disrupt $20 Billion Remittances Market

5 months ago
MWC25: Glide Identity Expands Open Gateway Deployment with Google Cloud Strengthening Telecom Security

MWC25: Glide Identity Expands Open Gateway Deployment with Google Cloud Strengthening Telecom Security

4 months ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.