The Debt Management Office has disclosed that the new capital raising which the Presidency requested from the Senate has already been approved.
The DMO disclosed this in a statement on Wednesday evening, saying it was approved and sent to the Senate to fulfil the provision of sections 21 and 27 of the Debt Management Office Act 2003.
It was also revealed that proceeds would be used for capital projects including power, transport, agriculture and others.
READ: DMO offers N150 billion worth of FGN Bond for subscription in January 2021
In case you missed it
Nairametrics reported earlier this week that President Muhammadu Buhari had sent a letter to the Nigerian Senate, requesting the sum of $2.18 billion external loan for approval to fund the 2021 Appropriations Act.
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