September 26, 2017 / 5:57 PM / in 25 days

Nigeria asks Senate to amend law for govt to settle 2.7 trillion naira debt

LAGOS, Sept 26 (Reuters) - Nigeria’s government has asked parliament to amend its spending law to enable a debt program to settle 2.7 trillion naira worth of its obligations including pensions and salary arrears, according to a letter from Vice President Yemi Osinbajo.

The letter, read out in the Senate on Tuesday, requested amendments to the law, which stipulates allocation of government spending, to allow Nigeria to fund recurrent expenditure from proceeds of the debt rather than just capital projects. (Reporting by Camillus Eboh; Writing by Chijioke Ohuocha; Editing by Alexis Akwagyiram/Mark Heinrich)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below