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President of the 9th Senate, Senator Ahmad Lawan has revealed that the senate will approve the $29.9Billion loan request by President Muhammadu Buhari, DAILY Post reports.

Lawan who had earlier cautioned the Executive to minimise its planned borrowing stated this during a media parley in Abuja.

According to Lawan, “The question of whether we will pass the loan request of the Executive arm of Government, yes, we will pass it.

“If we don’t have money and you have projects to build them, how will you provide infrastructure that you need?

“But one thing is that, we are going to be critical that every cent that is borrowed is tied to a project.

“These are projects that will have spillover effects on the economy and we will undertake our oversight so well to ensure that such funds are properly, prudently, economically and transparently are applied on those projects.”

The senate president said that various committees will be inaugurated to carry out oversight functions and ensure that the money is not misappropriated.

It will be recalled that the 8th senate led by Bukola Saraki had turned down the same request by President Buhari in 2016.

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