World

Nigeria Seeks to Borrow $1 Billion for Military

Nigeria President, Goodluck Jonathan, speaks during the World economic forum on Africa in Abuja, Nigeria, Thursday, May 8, 2014. (AP Photo/Sunday Alamba)
Nigeria President Goodluck Jonathan speaks during the World economic forum on Africa in Abuja, Nigeria, Thursday, May 8, 2014. (AP Photo/Sunday Alamba)

 

ABUJA, Nigeria (AP) — Nigeria’s president says he wants to borrow $1 billion from abroad for equipment and training for the military fighting an Islamic insurgency.

President Goodluck Jonathan sought approval from legislators in a letter Wednesday saying the money is needed “to enable them to more forcefully confront this serious threat.”

Nigeria’s military has been criticized for its failure to curb the five-year-old insurgency by Boko Haram that is spreading across the country. Those failures have been highlighted by its inability to rescue the more than 200 kidnapped schoolgirls now held hostage for three months.

The oil-rich nation’s military budget amounts to about $6.3 billion a year but large sums are lost to endemic corruption.

Jonathan’s letter said the loan could include arrangements with other governments and would not exceed $1 billion.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Tags
Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Back to top button

Subscribe today for free and be the first to have news and information delivered directly to your inbox.


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker