By Black Star News
Photos: YouTube Screenshots
Nigeria’s Senate has approved a couple of loans totaling over $21 billion to address budget deficits.
The loans will purportedly be used for housing, healthcare, education, security, and infrastructure development.
Around $3 billion is earmarked to be used to modernize a rail line that connects the southeast city of Port Harcourt to the northeast city of Maiduguri.
Chair of the Senate Banking Committee, Senator Adetokunbo Abiru, told Nigerian lawmakers that “These loans are long-term, some with tenors ranging from 20 to 35 years, and they are strictly tied to capital and human development projects.”
The initiatives will reportedly create millions of jobs.
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