Nigerian Senate Approves $1.14 Billion in Loans, ThisDay Says
Nigeria’s Senate, the upper chamber of parliament, approved plans for the central government and some states to borrow $1.14 billion from foreign development agencies, ThisDay reported.
The loans, which form part of their 2010 budget that was extended to March 31, will be used in part for power and energy projects, the Lagos-based newspaper said, citing Ahmed Makarfi, chairman of the Senate Finance Committee.
To contact the reporter on this story: Paul Okolo in Abuja firstname.lastname@example.org.
To contact the editor responsible for this story: Andrew J. Barden at email@example.com.