Fred Itua, Abuja
President Muhammadu Buhari has formally written to the Senate to approve an undisclosed amount of foreign loan to the Federal Government.
The said $30 billion loan was rejected by the 8th Senate headed by Bukola Saraki.
The President of the Senate, Ahmad Lawan, read the loan request from President Buhari on the floor of the Senate on Thursday.
The Senate rejected it in November 2016 in a bipartisan move. No reason was offered on why the loan request was rejected then.
According to the Debt Management Office (DMO), the total loan of the country currently stands at over N25 trillion.