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Nigeria: Jonathan seeks to borrow U.S.$7.9 bln from Islamic bank

Posted on 16 February 2012

Present Goodluck Jonathan asked the Senate to give go ahead to borrow another $7.9billion (N1.3trillion) from the World Bank to fund what he called ‘pipeline projects already at various stages of completion.
But Senate in swift reaction however said the planned borrow does not mean that Nigeria is broke. President Jonathan in a two page letter to the Senate president senator David Mark read on the floor of the senate yesterday said he intend to spread the loan to three years at $2.4billion each year………………………………………..Full Article: Source

 
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