REVEALED: Full details of how President Buhari plans to spend $22.7 billion loan | Nigerian News. Latest Nigeria News. Your online Nigerian Newspaper. f


The Nigerian Senate had on Wednesday approved the request of President Muhammadu Buhari to borrow $22.7 billion externally.
According to the report by the upper lawmaking chamber, the loan is earmarked as follows:

  • Rural water supply and sanitation – $150,000,000 (Taraba, Borno,Yobe and Gombe)
  • Agriculture, Transformation Agenda Support Project $200,000,000 (Nationwide)
  • Staple Crops Processing Zone Projects $500,000,000 (Nationwide)
  • Institutional-Strengthening and implementation of policy reforms $33,750,000 (Domiciled at the Federal Ministry of Works and Housing)
  • Emergency Road Rehabilitation and maintenance $434,700,000 (Federal Ministry of Transportation)
  • Development Finance Project $450,000,000 (Federal Ministry of Finance)
  • Lake Chad Basin Commission $13,000,000 (Nigeria, Chad, Niger, Cameroon Libya and Central African Republic)
  • Power Sector: Nigeria Electricity Transmission and Access Project, Power Transmission Project, TCN overall Transmission system enhancement project, vocational training in the power sector and Mambila Hydro Electricity Power Project $5,614,000,000
  • Ministry of Communication and Digital Economy: National Information and Communication Technology Infrastructural Backbone by Galaxy Backbone (Phase II) – $328,108,731
  • Education Sector: Education Sector Reform Programme renamed Batter Eduation Service Delivery for All – $500,000,000
  • Ministry of Niger Delta Affairs: East West Road Project – $800,000,000
  • Information and Culture Ministry: NTA Digitization Project – $500,000,000
  • Mines and Steel Sector: Development of the Mining Industry Project – $150,000,000
  • Federal Capital Territory: Greater Abuja Water Project – $381,095,037 and Abuja Mass Rail Project – $1,252,293,005
  • Transportation Sector: Lagos-Kano Railway Modernization Project (Ibadan=Kano Segment Double Track) – $5,530,000,000
  • Railway Modernization Coastal Railway Project (Calabar-Port Harcourt-Onne Deep Sea Port Segment – $3,474,000,000
  • Ministry of Health: Regional Disease Surveillance System Enhancement (REDISSE) Project in West Africa – $90,000,000.
  • Ministry of Humanitarian, Disaster Management and Social Development: Social inclusion and welfare advancement project now (National Social Safety Net Project) $800,000,000
  • Katsina State: Health System Projects $110,000,000
  • North East Nigeria Integrated Social Protection, Basic Health, Education, Nutrition Services and Livelihood Restoration Project – $100,000,000

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