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Senate okays $750m foreign loans for Ogun, Kaduna, Enugu, others

The Senate, on Thursday, approved external loans for 10 states totalling $750m for the purpose of financing various projects across the country.

The benefitting states are Kaduna, Ogun, Ebonyi, Abia, Katsina, Jigawa, Kano, Enugu, Plateau and Ondo.

The Senate also approved the sum of $1.806bn for the Lagos-Ibadan segment of the Lagos-Kano rail modernisation project.

From the African Development Bank, Abia is getting $200m for Rural Access and Mobility Project; Ebonyi is to get $70m for Ebonyi Ring Road project (to be co-financed by the Islamic Development Bank); Enugu, Kano, Plateau and Ondo are to jointly get $200m for the National Water Urban Sector Reform.

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