Thursday, 17 July 2014

President Jonathan Seeks $1 Billion Loan to Fight Boko Haram

Nigerian President Goodluck Jonathan requested permission from parliament to borrow $1 billion to help equip the armed forces in its fight against the Islamist-insurgent group Boko Haram.

“I would like to bring to your attention the urgent need to upgrade the equipment, training and logistics of our armed forces and security services to enable them to more forcefully confront this serious threat,” Jonathan said in a letter dated July 15 and read out today in the capital, Abuja, by Senate President David Mark. The $1 billion may be sourced from other governments, said
Jonathan.

Though $6 billion was allocated to defense and security this year’s budget, Nigeria ’s government is struggling to curtail a five-year-old insurgency by Boko Haram militants, who are seeking to impose Islamic law on Africa ’s biggest economy and most populous nation of about 170 million people.

Courtesy:
Bloomberg