Nigeria President Gets Thumbs Up on U.S.$500 Million Budget Deficit Bailout

The National Assembly has approved the $500m Eurobond to fundthe 2016 budget capital projects’ deficit.

In February, the then Acting President, Yemi Osinbajo, had in a letter addressed to both the Senate and House of Representatives sought the approval for the amount.

Both chambers separately approved the sum during yesterday’s plenary.

While the Senate had to shelve the long process for the approval asthe request was presented and approved same yesterday, the House, which had referred the request to some of its committees, consideredthe report yesterday.

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Source: Daily Trust.

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