The Nigeria’s budget office has raise the alarm over president muhammadu buhari $800m loan request.

The request made 18 days to end the tenure of President Muhammadu Buhari-led Federal Government according to analyst will worsen Nigeria’s debt profile which has consistently maintained an upward trend.

The request for the loan, said to be for financing the National Social Safety Network Programme, was contained in a letter read by the senate president, Ahmad Lawan, to lawmakers on the floor of the Senate on Wednesday.

The letter goes thus “

Please note that the Federal Executive Council approved an additional loan facility to the tune of $800 million to be secured from the World Bank, for the National Social Safety Net Programme and the need to request for your consideration and approval to ensure early implementation.

“The Senate may wish to note that the programme is intended to expand coverage of shock responsive safety net support among the poor and vulnerable Nigerians. This will assist them in coping with the costs of meeting basic needs.

“You may wish to note that, the Federal Government of Nigeria under the conditional cash transfer window of the programme will transfer the sum of N5,000 per month to 10.2 million poor and low-income households for a period of six months, with a multiplier effect on about 60 million individuals. In order to guarantee the credibility of the process, digital transfers will be made directly to beneficiaries’ accounts and mobile wallets.

“The NASSP being a social intervention programme will stimulate activities in the informal sector, improve nutrition, health, education and human capital development of beneficiary households.

“Given the above, I wish to invite the Senate to kindly approve an additional loan facility to the tune of USD8OO million to be secured from the World Bank for the National Social Safety Net Programme.”

Buhari express hope that the loan request will be duly considered by the senate.

www.thepandoranewspaper.com

$800m for take-home incentive. Buhari won finish the soup before he drink water

😋😋😋😋

This man is in insane

$800m bawo?

$800m...final cash out for Buhari and his cronies.