President Goodluck Jonathan has requested the approval of the National Assembly to receive another $8 billion loan for pipeline projects.
Jonathan had asked the Senate to approve the borrowing under the Medium Term (2012-2014) External Borrowing Plan. But the Senate yesterday refused to debate the request until it receives further communication from the executive arm.
Senate adopted a motion by Senate Leader Victor Ndoma-Egba that the matter is stood down pending further communication from the presidency.
In another development, the Senate has confirmed that Jonathan will not present the 2013 budget to the National Assembly today as earlier planned.
Ndoma-Egba said "the budget is going to be laid sometime next week."
Daily Trust
Let them keep borrowing till the country runs into debt again.
lets just hope it is used for the pipeline projects and not sometin else