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The Senate committee on Finance chaired by Senator Ahmed Mohammed Makarfi (PDP, Kaduna) has recommended that the senate approves President Goodluck Jonathan’s request for a $1billion loan (about N160 billion) for the upgrade of equipment for the Nigerian Armed Forces and security services to enable the prosecute the war against Boko Haram insurgency effectively.
President Jonathan had on July 17 asked the National Assembly to approve the request but the matter was not attended to as lawmakers proceeded on their annual recess a day after.
Last week the Senate referred the request to its committee on Finance, which turned in its report on Wednesday, with the recommendation that the red chamber approve the loan as requested by the president.
