The loan approval came as experts continue to express worry over the country’s rising debt profile, which is said to have made the country’s fiscal position increasingly fragile. xThis is coming a week after Edo State Governor, Godwin Obaseki, raised concerns about the country’s rising public debts. “Recall that the current year’s budget has a deficit of over N5 trillion to be financed largely by domestic and foreign loans. I think the approval by the Senate aligns with the procedure for taking foreign loans. “Having approved such foreign loans, it behooves the National Assembly to monitor its disbursement and application to ensure that it is used for the purpose for which it is meant,” he said.

Source: The Guardian April 22, 2021 04:04 UTC