President Muhammadu Buhari has written to the National Assembly seeking approval for a loan request of $6.5 billion.
The letter from the President seeking the approval was read on the floor of the Senate on Tuesday morning, by senate president, Bukola Saraki.
In his explanation, the President said the loans will be sourced through issuance of Euro and Diaspora bonds and the borrowing will be used to fund capital projects.
Projects to be funded through the bond, a s listed in the letter include the construction of Mabila power project in Taraba State, construction of second runway of Abuja Airport and other major projects across the country.
