President, Muhammadu Buhari, has asked the senate to approve a loan of $5.5 billion to fund the 2017 budget.
His request was contained in a letter and read by senate president, Bukola Saraki, at the plenary on Tuesday.
The president also said that the 2017 budget had a deficit of N2.356 trillion and that the loan is needed to offset the deficit.
Meanwhile, President Buhari is right now meeting behind closed doors with service chiefs, Minister of Defence, and the National Security Adviser.
Also in attendance are the Director General of the State Security Services, the Acting Director of the Nigeria Intelligence Agency, and the representative of the Inspector-General of Police.
Details of the meeting will be brought to you in our subsequent bulletins.