Close Menu
Chronicle.ng
    Trending Stories
    Nigeria advance into WAFCON quarters with win over Botswana 

    Nigeria advance into WAFCON quarters with win over Botswana

    July 11, 2025
    JAMB releases 2025 UTME resit results and warns on exam malpractice

    JAMB; ASUU, ASUP reject 150, 100 cut-off marks for varsities, polytechnics

    July 11, 2025
    Ighodalo angry over Supreme Court verdict on Edo governorship election

    Ighodalo angry over Supreme Court verdict on Edo governorship election

    July 11, 2025
    Facebook X (Twitter) Instagram
    Trending
    • Nigeria advance into WAFCON quarters with win over Botswana
    • JAMB; ASUU, ASUP reject 150, 100 cut-off marks for varsities, polytechnics
    • Ighodalo angry over Supreme Court verdict on Edo governorship election
    • Edo: Wike lauds Supreme Court verdict, urges PDP candidate to accept defeat
    • Armed herdsmen kill four security men on patrol in Benue
    • ADC not a threat to PDP – Bala Chiroma
    • NNPC refineries will never work – Dangote
    • Victory for democracy, Tinubu hails Okpebholo on Supreme Court win
    Facebook X (Twitter) Instagram
    Chronicle.ngChronicle.ng
    Subscribe
    Friday, July 11
    • News
      • Nigeria News
      • World News
      • Headlines News
    • Politics
    • Business
    • Sport
    • Entertainment
    • Contact Us
    Chronicle.ng

    Senate grants Tinubu $500m electricity prepaid metres loan request 

    Opalim LiftedBy Opalim LiftedMay 16, 2024No Comments2 Mins Read
    Facebook Twitter Telegram WhatsApp
    SERAP urges Tinubu to probe alleged obstruction of NDDC audit report
    President Bola Tinubu
    Facebook Twitter WhatsApp

    The Senate on Wednesday granted President Bola Tinubu’s request to borrow $500 million for his administration’s mass metering project to procure prepaid electricity metres for Nigerian households.

    The Deputy Senate President, Barau Jibrin, communicated his approval of the request, noting that the decision was based on the recommendation of the committee on local and foreign debt.

    The vice chairman of the committee, Haruna Manu, said the terms of the loan contract were favourable in that the nation would not in any way suffer a setback or stunted economic growth because of the debt.

    The loan, according to Manu, ought to have been approved months earlier, if not for the sluggishness of the Bureau of Public Enterprises in appearing before the Senate to defend the project.

    “The committee recommends that the Senate approve the ongoing negotiations of the external borrowing in the sum of $500 million for BPE and that the perforations of the loan from the funding agency be forwarded to the National Assembly before execution,” Manu said on Wednesday.

    The $500 million falls under the nation’s 2022–2024 external borrowing plan, including the $7.94 billion World Bank loan and €100 million that Tinubu sought approval to obtain in November 2023.

    But the Senate slashed about $540 million from the request, approving $7.4 billion on December 30, 2023.

    Share. Facebook Twitter Telegram WhatsApp

    Keep Reading

    Ighodalo angry over Supreme Court verdict on Edo governorship election

    Ighodalo angry over Supreme Court verdict on Edo governorship election

    How ADC collapsed under Obasanjo-led coalition before 2019 elections

    ADC not a threat to PDP – Bala Chiroma

    Victory for democracy, Tinubu congratulates Okpebholo on Supreme Court win

    Victory for democracy, Tinubu hails Okpebholo on Supreme Court win

    APC mocks Atiku, Obi alliance to unseat Tinubu in 2027

    Atiku, Obi can not defeat Tinubu in 2027 – Presidency

    I want an Igbo president for fairness, by Tunji Sokunbi

    I want an Igbo president for fairness, by Tunji Sokunbi

    Akume still SGF, says presidency amid resignation rumours

    Akume denies jostling for APC chairmanship

    Add A Comment
    Leave A Reply Cancel Reply

    Subscribe to News

    Be the first to get the latest news updates from ChronicleNG about world, sports, politics etc

    Nigeria advance into WAFCON quarters with win over Botswana 

    Nigeria advance into WAFCON quarters with win over Botswana

    July 11, 2025
    JAMB releases 2025 UTME resit results and warns on exam malpractice

    JAMB; ASUU, ASUP reject 150, 100 cut-off marks for varsities, polytechnics

    July 11, 2025
    Ighodalo angry over Supreme Court verdict on Edo governorship election

    Ighodalo angry over Supreme Court verdict on Edo governorship election

    July 11, 2025
    Edo: Wike lauds Supreme Court verdict, urges PDP candidate to accept defeat

    Edo: Wike lauds Supreme Court verdict, urges PDP candidate to accept defeat

    July 11, 2025
    Imo: Agwa residents urge Tinubu, IGP to end killings by herdsmen

    Armed herdsmen kill four security men on patrol in Benue

    July 11, 2025
    Facebook X (Twitter) Instagram
    • Politics
    • News
    • Sports
    • Business
    • About Us
    © 2025 ChronicleNG

    Type above and press Enter to search. Press Esc to cancel.