President Muhammadu Buhari has sought the Senate approval for a fresh $5.513 billion external borrowing to finance some projects in the 2020 budget.
He made the request in a letter read by the Senate President, Ahmad Lawan, on Thursday during plenary.
President Buhari, in the letter, sought to raise the loan from multilateral institutions, including International Monetary Fund (IMF), World Bank, African Development Bank and Islamic Development Bank.
He said the new loan was to fund some priority projects of the federal and state governments.
