President of the Senate, Ahmad Lawan, yesterday, said Nigeria is a poor nation that has no option but borrow to fund infrastructure development.
He disclosed this when he visited the Presidential Villa, Abuja, where he met President Muhammadu Buhari behind closed doors.
Fielding questions from newsmen after the meeting, Lawan, however, assured that the legislature would “not be frivolous” in granting executive requests for loans.
“We also have the loan request from Mr. President. The request is to fund the 2021 Appropriation Act and, of course, this is not a new request. It’s something that we had passed in the MTEF and it’s something that when we passed the 2021 budget, we also passed that.
“So, it’s only to give the necessary legislative approval for the administration to go further and collect the funds.” he said
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