FG $2.18bn capital raising has already been approved – DMO

THE new ‘external capital raising’ of $2.18 which the Presidency had requested from the Senate has already been approved.

The Debt Management Office (DMO) disclosed this in a statement on its offical twitter page on Wednesday evening.

It said the request was approved and sent to the Senate to fulfil the provision of sections 21 and 27 of the Debt Management Office Act 2003.

The DMO also revealed that proceeds would be used for capital projects including power, transport, agriculture and others.

Recall that President Buhari had sent a letter to the Nigerian Senate, requesting the sum of $2.18 billion external loan for approval to fund the 2021 Appropriations Act earlier this week.