Jonathan seeks $1bn loan to fight Boko Haram

Jonathan seeks $1bn loan to fight Boko Haram

Thursday, July 17, 2014 12:04 am

Nigerian President Goodluck Jonathan Wednesday sought parliamentary approval to borrow up to $1 billion (730 million euros) in foreign loan to fight an insurgency by Boko Haram militants which has claimed thousands of lives in the past five years.
In separate letters to both houses of the national assembly, Jonathan said there is an “urgent need” to upgrade the equipment, training and logistics of the armed forces and security services help them “confront this serious threat”.
Jonathan: wants foreign loan to fight Boko Haram

Jonathan: wants foreign loan to fight Boko Haram

Citing the “ongoing and serious security challenges which the nation is facing, as typified by the Boko Haram terrorist threat,” Jonathan said he is seeking to borrow up to $1 billion.

No date has been set yet for a debate on the president’s request and there is no indication of where Nigeria could borrow from.

In this year’s budget, close to a trillion naira, about $6 billion was approved for security services.

Borno State Governor Kashim Shettima said last February that Boko Haram was “better armed and better motivated” than government forces, a statement rejected by the military and the President then. And for a long time, they all lived in self-denial of what was so obvious to all observers of the intractable Boko Haram insurgency.

Borno in the northeast has been under a state of emergency, along with neighbouring Yobe and Adamawa states since May last year. And sources said Boko Haram is controlling more than half of the state.

The Islamist rebels seized 276 girls from a secondary school in the Borno town of Chibok more than three months ago, triggering global outrage.

Fifty-seven of them escaped while 219 others are still missing.

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