The Nigeria National Assembly has approved President Muhammadu Buhari’s request for the issuance of an additional 500 million dollar Eurobond in the international capital market.
The request, approved in both chambers of the National Assembly consisting of a Senate with 109 members and a 360-member House of Representatives, after the committees authorized to consider the request, submitted their reports endorsing that it should be approved.
The funds which is said to be raised from the International Capital Market are to be used in funding the 2016 budget deficit.
The House of Representatives has also directed its Committee on Aids, Loans and Debt Management to monitor the judicious utilization of the loan.
