The hope of President Muhammadu Buhari to carry out external borrowing of funds was dashed as the Senate overwhelmingly voted against his request to do so.
President Buhari had last week written to the Senate, requesting for the approval to borrow about $30bn as 2016 – 2018 External Borrowing Rolling Plan.
However, when the matter was moved for deliberation by the Senate Leader, Ali Ndume, the senator representing Kogi West, Senator Dino Melaye sought to lead debate on the matter, but was turned down by the Senate President, Bukola Saraki
It was later subjected to a voice vote, at the end of which the ‘Nays’ turned out the loudest Vote.
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