Senate today approved the $5.5 billion external loan requested by President Muhammadu Buhari to finance Federal Government projects.
PUNCH reports that Buhari, in a letter dated October 4, 2017, had said the external borrowings had been captured in the 2017 Appropriation Act, which has a deficit of N2.356tn and provision for new borrowings of N2.321tn.
The committee noted that the $3 billion for refinancing of the country's domestic debts will not lead to an increase in the public debt portfolio. "Let me say that we need to urge the DMO to ensure that our debt profile is watched and that we do not exceed or overblow our debt". However, it will reduce the cost of the debt.
"The Mamblilla hydro power project which has always been abandoned when completed will add substantially to the national grids thus improve power output of the country".
Before the unanimous approval of the loan, some Senators called for caution on the way and manner the Federal Government rushes to take foreign loans.
"The construction of the second runway of the Nnamdi Azikiwe worldwide airport will enhance the safety of the air passengers, increase the use of airports by global airlines thus increase the revenue of the government". He was however countered by Senator Gbenga Ashafa who argued that the loans were necessary to facilitate development across the country.
"Mr President, Distinguished colleagues, the loan cover projects that spread across the six geopolitical zones and those projects were critical to Nigerians, so it should be approved", he said.
"Again, if we single them out, they cover power, rail, roads, even building bridges across the various water channels and the issue of the second run way". This Senate is known to be working together for the benefit of all Nigerians.
Senate leader Ahmed Lawan said the loan will make a huge difference in the economy, if properly utilised.
The government intends to spend money on infrastructure projects to diversify the OPEC member's oil-dependent economy.
The assets are disproportionate to his known sources of income for which he could not reasonably account for, the reference said. The court also recorded the statements of NAB investigation officers in three references against sons of former prime minister.
The bank confirmed the fine, as well as its willingness to pay it, in a statement released late Monday evening. The probe is still ongoing in relation to other banks, according to a person familiar with the matter.
The last close places the company's stock about $1.82 off its 52 week high of $43.55 and $16.23 above the 52 week low of $25.5. Generation's stake was worth $169.7 million at the time of purchase. (NASDAQ:ELGX) to report earnings on February, 28.
There were no bids that competed with Whitefish, a small company whose office is in the hometown of Energy Secretary Ryan Zinke . Linemen from Lakeland were paid $63 an hour, while workers from Jacksonville earned up to $100 in double time .
Of that group, Musa and Uche stand out as the only two to have scored a brace, and Musa scored his at the World Cup. Like Clemens Westerhof before him, Gernot Rohr came into Nigeria under-promising, but has seemingly over-delivered.
Ellerbe said his ankle hasn't been an issue since training camp and felt his workout with the Eagles two weeks earlier went well. Cowboys fans better hope they can fix that problem, because it looks like they'll be without him for the next few games.
The Firm owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. The stock rose 0.54% or $0.62 reaching $114.76. (NYSE:EXR) earned "Hold" rating by Cantor Fitzgerald on Wednesday, November 1.
Marketwatch.com's news article titled: "133.00" with publication date: November 04, 2016 was also an interesting one. Ladbrokes Coral Group PLC has a 12-month low of GBX 110.30 ($1.45) and a 12-month high of GBX 139.30 ($1.83).
The flags used by Syrian Democratic Forces units found in Abu Kamal confirm that, the Russian Defense Ministry noted. The retreating IS fighters were equipped with "military vehicles and heavy weapons", they added.
It has underperformed by 5.50% the S&P500.The move comes after 8 months positive chart setup for the $2.27B company. Alpine Associates Management Inc increased Time Warner Inc (TWX) stake by 2003.27% reported in 2017Q2 SEC filing.
Bangladesh oust India from Under-19 Asia Cup
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Drogba: Chelsea Legend To Retire At End Of Season
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Judgement reserved in Imran Khan's disqualification case
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China Posts Moderate Economy Growth
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Pat McGrath Partners with Maggie Lindemann and Spotify
The rising star, pictured above, is a new McGrath muse and is releasing a new single, "Obsessed", timed with the campaign launch. All users need to do is head over to Lindemann's artist page, and scroll down to her Merchbar to find what's on offer.