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Saturday, August 15, 2015

Nigeria: Senate Approves Oshiomole's U.S.$75 Million World Bank Loan


The Senate on Thursday, at plenary, approved Oshiomole's World Bank loan despite efforts by an Edo State lawmaker to resist Senate's approval of the loan.


Recall that President Muhammadu Buhari had requested the Senate to grant approval to the government of Edo State to obtain a loan of $75 million from the World Bank.
In a letter to the President of the Senate, Senator Bukola Saraki, which he read on the floor of the Chamber on August 4, 2015, Buhari reminded the lawmakers that the World Bank had approved a development policy program for the total sum of $225 million to Edo State government in 2012, to be implemented in three tranches of $75 million per annum.

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