 President Mohammedu Buhari has sought the approval of Senate for external loan. This is an addendum to the 2018 to 2021 federal government external borrowing plan. Buhari's request was contained in a letter addressed to President of the Senate Ahmed Lawan and read at Plenary on Tuesday. Buhari in the letter said the loan would be sourced from the multilateral organizations and it will be used to finance critical projects of the federal and state governments. He urged the Senate to give consideration and approval to the request given the timing and benefits. The project is listed in the addendum to the 2018-20 to 2020 federal government external borrowing plan to be financed through sovereign loans from the World Bank, French Development Agency, China Eximbank, International Fund for Agriculture Development, IFAD, Credit Swiss Group and Standard Chartered China Export and Credit in this total sum of USD, American Dollars, $4,054,476,863 plus Euro, $710,000,000 and Grand Component of USD, $125,000,000 dollars. The Senate is kindly invited to note that the projects and programs in the borrowing plan were selected based on positive technical and economic valuations and the contribution they would make to the socio-economic development of the country including employment generation and poverty reduction as well as protection of the most vulnerable and very poor segments of the Nigerian society. Hello, hope you enjoyed the news. Please do subscribe to our YouTube channel and don't forget to hit the notification button so you get notified about fresh news updates.