The $500 million dollars loan request for Mass Metering programme of President Tinubu administration has been approved by the Senate.
The President’s request was approved by the upper Legislative Chamber on Wednesday after Haruna Manu, Vice Chairman of the committe on Local and Foreign debts presented a report on it.
The Upper Legislative Chairman was said to have approved the request as part of the 2022-2024 external borrowing rolling plan of the President after it considered a report of the Senate committe on Local and Foreign debts.
While presenting the report, Manu said the request ought to have been approved earlier but it was delayed because the BPE did not appear early to defend the request.
The Committe therefore appealed that the Senate do approve the ongoing negotiation of the external borrowing in the sum of $500 million dollars for BPE he said.
That the terforions of the loan from the funding agency be forwarded to the National Assembly before execution.
