The National Assembly has approved a $1billion Eurobond request by the federal government as contained in the 2016 budget.
It will be recalled that the acting president, Prof Yemi Osinbajo, yesterday met with Senate President Bukola Saraki and Speaker Yakubu Dogara at the Presidential Villa, Abuja, to discuss the Executive’s latest request.
The National Assembly had earlier given the Executive arm of government the go-ahead to secure a $3 billion external loan approved in the subsisting 2016 budget, which will elapse in March this year.
The Senate, which went on break last week, to work on the 2017 budget at committee level, it was learnt, may reconvene to discuss and approve the executive request for the $1 billion Eurobond which is already before it.
The federal government is to organise a Road Show to raise the said fund since the National Assembly had also declined to approve the $29.9 billion external borrowing plan by President Muhammadu Buhari presented to it in 2016.
Addressing State House correspondents after the meeting, Saraki confirmed that they discussed issues relating to the nation’s economy including the 2017 budget proposal.
While noting that the meeting was fruitful, the Senate president revealed that they were updated on the proposed government’s economic recovery plans, the road show for the sale of bonds and the 2017 budget. He said the National Assembly had so far not encountered any problems with the 2017 budget. “We are meeting on the economy and the budget: myself, the vice-president and the speaker, minister of budget and minister of finance.
“We are aware that the economic team will soon be going on a road show and just to brief us and let us know the issues and just carry us along. We have just started the defence so there are no issues, these are just consultations,’’ Saraki added.