Home » Latest News » Buhari seeks Senate’s approval for $200 million loan for Lagos President Muhammadu Buhari, yesterday, asked for special approval of the Senate for US$200million (N39.8 billion) loan for Lagos State. The President, through a letter entitled: “Request for Special Approval of Lagos State Development Policy Operation Under the Federal Government External Borrowing Rolling Plan (2015-2017),” requested for the Senate’s approval for a development policy operation loan of US$200 million to Lagos State from the World Bank Buhari added in the letter that, “You may wish to know that the World Bank approved a Development Policy Operation for a total sum of US$600 million to the Lagos State government in 2010 to be implemented in three tranches of US$200 million per annum.” The first tranche, he said, was approved by the National Assembly in the 2010-2012 Federal Government external borrowing plan and the second tranche w
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