The Federal House of Representatives has approved the request by the President Buhari to borrow N850bn to fund the 2020 budget.

The Federal Government is to raise the money in the New External Borrowing Plan in the 2020 Appropriation Act in naira from the Domestic Capital Market.

The lawmakers gave the approval on Tuesday during plenary at the lower chamber of the National Assembly in Abuja. The approval was  given within seven minutes.

This followed the consideration of the report on the 2020 External Borrowing Plan of the Federal Government by Garba Alhassan Ado.