The Senate has approved $1 billion loan requested by
President Goodluck Jonathan to tackle insecurity and terrorism in the country. The
approval, however, did not come easily as some lawmakers argued that President
Jonathan breached the constitutionally laid down process of requesting for
extra budgetary funds.
However, the Chairman Senate Committee on Finance said
President Jonathan is in full compliance of the law on this matter. Jonathan had written a letter asking the
Senate in July to approve a $1 billion loan for the fight against Boko Haram.
The President said he needed the cash to upgrade military
equipment and for training as well as logistics for the Armed Forces. This is
in addition to N968.127 billion voted for defence in the 2014 budget by the
Federal Government.
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