The Senate has approved the sum of 266 million dollar as contained in the 2016 to 2018 External Borrowing Plan of President Muhammadu Buhari for Niger State Development Policy Operation.
This followed recommendation of the Senate Committee on Local and Foreign Debts.
The loan among other things, is aimed at stimulating internally generated revenue.
It is also aimed at developing critical infrastructure that will attract private investors to the state thereby increasing employment opportunities for residents and citizens.
Presenting the report, the Committee Chairman, Shehu Sani said that the fund for DPO from the World Bank was proposed to finance important programmes of Niger State Government.
Sani said the committee in its finding, discovered that the credit facility had an attractive low financing data of 1.25 per cent interest; moratorium of five years and a 25 year maturity tenure.
