President Muhammadu Buhari has written to the National Assembly to seek the approval for a loan of $5.513 billion.
The loan is to finance the revised 2020 appropriation and support state governments efforts to cushion the effect of COVID-19.
The letter was read at the plenary of the House of Representatives by the Speaker, Femi Gbajabiamila.
A copy was also read at the Senate.
$3.4 billion of the money, the letter reads, will be sourced from the International Monetary Fund, $1.5 billion from World Bank, $500 million from African Development Bank and $113 million from Islamic Development Bank.
The request was referred to the House Committee on Loans and Debt for consideration after it was read.
It would be recalled that the Senate and House of Representatives had earlier approved that the president borrow N850 billion.
