Buhari seeks Senate approval for $800m loan
President Muhammadu Buhari asked the Senate on Wednesday to approve an $800 million loan to finance the National Social Safety Network Programme, NSSP.
Buhari’s request was contained in a letter read to the Senate by Ahmed Lawan during the Wednesday plenary session.
According to the President, the funds will be transferred to 10.2 million poor and low-income households for a period of six months, with a projected multiplier effect on 60 million people.
The President, therefore, urged the lawmakers to expedite action on the request for proper implementation.
Each of the 10.2 million individuals will receive the sum of N5,000 per month under the conditional cash transfer window of the programme.