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Tuesday, May 8, 2018

Why We Rejected Kaduna’s $350m Loan Request, Shehu Sani Explains

The Chairman, Senate Committee on Local and Foreign Debt, Shehu Sani, said Kaduna State Government’s request for a $350 million loan was rejected due to the state’s high debt profile.

Mr Sani told the News Agency of Nigeria (NAN) in Abuja that senators from the state supported the rejection of the request.

According to him, approving the loan for a state with a high debt profile would put a lot of burden on future generations of the state.

The Senate had on March 29, rejected the World Bank loan sought by the Kaduna State Government for developmental projects.

The request was also opposed by the three senators representing the state.

Recall Governor Nasir El-Rufai isn't happy with this and cursed the Senators at a public function on Friday. He also described the senators as “enemies of the state, people and All Progressive Congress”.