Reps Approve Fresh $1.5bn, €995m FG Borrowing Plan

The House of Representatives, yesterday, approved the External Borrowing Plan of the Federal Government to the sum of over $1.5billion and €995million.
Besides, it adopted a report of its Finance Committee, to issue from the Statutory Revenue Fund of the Federal Inland Revenue Service (FIRS) the total sum of N 216, 646, 579, 231. 00.
Out of the sum N107, 521, 496, 984.00 only is for Personnel Cost, while the sum of N56, 469, 218, 415.00 only is for Over Head Cost, and the sum of N52, 655, 863, 832.00 only is for Capital Project of the Federal Inland Revenue Service (FIRS) for the year ending December 32, 2021″.
The House also adopted its Committee on Aids, Loans and Debt Management report, laid by the Chairman, Rep. Ahmed Safana Dayyabu”on the Request for the Approval of External Loans to Finance the Priority Projects of the Federal Government and approve the External Borrowing Plan of $1.5billlion and €995million”.
The House, however, entered a caveat, “that the terms and conditions of the loans from each Lender as contained in a duly executed Loan Agreements be forwarded to the National Assembly for proper documentation”.