The Senate has approved the $200 million loan requested by Lagos State Government from the World Bank after a debate on the report of its adhoc committee on local and foreign debts.
President Muhammadu Buhari had written the Senate seeking approval for the Lagos Government’s Development Policy Operation Loan.
Senator Danjuma Goje from Gombe state initially opposed the Senate from approving the loan stating that it will leave the state with huge debt burden for future governments but later went ahead to give his backing for the loan request. While Senator George Sekibo from Rivers state urged the Senate to put proper check in place to monitor how the money is being handled.
