Pres. Jonathan Requests $1 Billion Loan to Tackle Boko Haram

On Wednesday, President Goodluck Ebele Jonathan sent a letter to the National Assembly, asking the lawmakers to urgently approve an external loan of $1 billion for the Federal Government to fight Islamist terrorist sect Boko Haram.

Senate President David Mark and Speaker Aminu Tambuwal, read the letter to the Senate and House of Representatives respectively. The loan is meant to help upgrade equipment and train security officers properly.

“You are no doubt cognisant of the ongoing and serious security challenges which the nation is facing , as typified by the Boko Haram terrorist threat. This is an issue that we have discussed at various times.” he said in the letter titled Tackling Ongoing Security Challenges: Need for Urgent Action”

“For this reason, I seek the concurrence of the National Assembly for external borrowing of not more than $1bn, including government to government arrangements for this upgrade.” he continues in the letter.

The request may reportedly be considered today Thursday because of its urgency. In its 4.6 trillion 2014 budget provisions, the National Assembly already appropriated N968.127 billion for Defence on Boko Haram insurgency.

Punch was first to report the story.