Upon the approval of president Buhari's $22.7Bn loan request by the Senate, Voiceofyala has obtained an exclusive document which contains a breakdown of projects the federal government plans to embark on with the funds.
Accordingly, the loan is meant to aid the financing of the budget in Infrastructure, Social Investment, Power and Communication.
Top on the list for infrastructure is the Lagos-Kano rail way project which stands at $5.53Bn and the Calabar-Port Harcourt (Oone Deep Sea port Rail) project with a budget of $3.4Bn.
Below is a breakdown of Federal Government spending Plan.
INFRASTRUCTURE
*1 Lagos-Kano Rail: $5.53bn
*2 Calabar-PHC (Onne Deep Sea Port Rail): $3.47bn
*3 Abuja Rail Transit (Phase 2): $1.25bn
*4 East-West Road: $800m
*5 Road Rehabilitation: $434.7m
$22.7Bn Loan Spending Plan - cont'd.
*6 Abuja Water Supply: $381m
*7 North-East (Recovery/restoration): $300m
🍴SOCIAL INVESTMENT
*8 Social Welfare: $500m
*9 Education For All: $500m
⚡POWER
*10 Mambila power Project: $4.8bn
*11 Project/training: $614m
*12 Ogun/Lagos Power Transmission: $200m
📊ECONOMY
*13 MSMEs $1.28bn
*14 Devt Finance Projects: $970m
*15 Agriculture: $800m
*16 Mining Industry: $150m
📡COMMUNICATION
*17 NTA Digitisation: $500m
*18 ICT infrastructure: $328.1m
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