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 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.
In April, Drogba explained: "Roman Abramovich always made the right decision, even when it was the most hard decision". Drogba has been playing for Phoenix since the turn of the year, where he has scored 10 times in his 14 appearances.
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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.
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 .
Finally, JPMorgan Chase & Co. reissued a buy rating on shares of Lam Research Corp.in a research report on Thursday, October 6th. The firm has "Hold" rating by BMO Capital Markets given on Monday, June 26. (NYSE:PII) on Wednesday, June 29 with "Buy" rating .
Sale of branded formulations in India for Q2FY18 was Rs. 2,221 crores, up 11 percent and accounted for 34 percent of total sales. However, that was better than the INR8.27 billion estimated by analysts polled by Thomson Reuters .
Cornell Lockhart, left, is accused of using this knife to stab two women in the Bronx on November 13, 2017. The officers were wearing body cams and that footage will be included as part of the investigation.
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Columbia Partners L L C Investment Management purchased a new stake in Cohen & Steers in the 2nd quarter valued at about $417,000. The company reported $0.51 earnings per share for the quarter, meeting the Thomson Reuters' consensus estimate of $0.51.
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