JUST IN: Senate approves $1.5bn, €995m external loans for FG

The Nigerian senate has given the Federal Government the nod to borrow $1.5bn and €995m from foreign bodies.

The senate gave the federal government the go ahead at its plenary session on Wednesday.

The upper chamber considered the report of its Committee on Local and Foreign Debts on external borrowing plan of the government and approved the move.

Senator Clifford Ordia, Chairman of the Committee on Local and Foreign Debts laid the report of the panel before the senate for its approval.