Why Senate under Saraki rejected Buhari’s $30bn loan request

A former lawmaker, Shehu Sani, said the eight Senate rejected President Muhammadu Buhari’s loan request to save Nigeria from sinking into the dark gully of a perpetual debt trap.

Mr Sani who was the chairman of the Senate committee on local and foreign debt said the eight Senate did not want the country to be recolonised by creditor banks.

President Muhammadu Buhari had on Thursday forwarded a request to the Senate to reconsider and approve the federal government’s 2016 to 2018 external borrowing plan.

The loan, he said, is to execute key infrastructural projects across the country between 2016 and 2018.

The president had sent the same request to the eight Senate under Bukola Saraki in 2016. He had requested for about $30 billion.

The then lawmakers, however, rejected the request…

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