Breaking: Senate Okays $1bn For Arms Purchase
The Senate has approved a loan of 1 billion U.S.Dollars for
the Presidency to procure arms and equipment needed to eliminate Boko
Haram terrorism.
According to reports by TheNation, this was not an unanimous decision. Such an approval divided the Senate.
It would be noted that the total size of Nigeria’s budget for defence and security in 2014 was put at N938bn.
However, in July 2014 President Jonathan made an inquiry for an external loan of $1bn. The leader of the country explained the move by the need to upgrade military equipment, training and logistics of the armed forces and security services in order to boost their capabilities of the war against terrorism.
According to reports by TheNation, this was not an unanimous decision. Such an approval divided the Senate.
It would be noted that the total size of Nigeria’s budget for defence and security in 2014 was put at N938bn.
However, in July 2014 President Jonathan made an inquiry for an external loan of $1bn. The leader of the country explained the move by the need to upgrade military equipment, training and logistics of the armed forces and security services in order to boost their capabilities of the war against terrorism.
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