House Tasks Buhari On Borrowing Limit For FG, States And LGs.

The House of Representatives is calling on President Muhammadu Buhari to implement Section 42 of the Fiscal Responsibility Act.
The section mandates the President to set limits for consolidated debts of the federal, states and local governments.

In a motion by the Chairman, House Committee on Banking and Currency, Rep. Chukwudi Onyereri, the House is urging the President to take action on the matter within the next 90 days

The House believes different tiers of government have shown indiscretion and recklessness in the borrowing process due to the non-implementation of this section of the Act. (Channels TV)