President Goodluck Jonathan has written to the National Assembly requesting the approval of about $1 billion external loan to tackle the mounting security issues in the country.
In a letter sent to both the Senate and the House of Representatives titled ‘Tackling Ongoing Security Challenges For Urgent Action’, the President explained that the money will be used to advance training, equipment, and other urgent needs the for security forces in Nigeria.
Jonathan told the National Assembly that, “you are no doubt cognisant of the on-going and serious security challenges which the nation is facing as typified by the Boko-Haram terrorist threat.”
“For this reason, I seek the concurrence of the National Assembly for external borrowing of not more than $1 billion,” he added.
There are indications that the National Assembly will consider and approve Jonathan’s request on Thursday before its yearly recess.
The 2014 budget alloted about $6 billion for security spending and maintenance. The Nigerian military is also receiving assistance and intelligence support from Britain, France and the US.
Jonathan Seeks $1b To Fight Boko Haram http://t.co/Dz7Y0coL2A