President Bola Tinubu has written the House of Representatives, requesting an approval for the 47 million dollar loan facility.
The President urged the House to amend the 2025-2026 Federal Government External Borrowing Plan to address financial shortfalls.
The President’s request signed by Finance Minister Wale Edun, was read by Speaker of the House, Abbas Tajudeen.
The letter indicated that an additional 47 million dollars is needed for the Lagos-Calabar coastal highway project which rose from 700 to 747 million dollars.
Meanwhile, the House of Representatives Committee on Petroleum Resources (Downstream) is set to investigate the huge financial investments for Turn Around Maintenance of the nation’s major refineries without results.
Several sub-committees have been constituted within the larger committee to probe challenges and proffer solutions in the downstream petroleum sector.
President Seeks House Of Reps’ Loan Approval Of $47m
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