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Nigeria president seeks $1 bn in foreign loan to fight insurgents

Nigerian President Goodluck Jonathan (R) on June 15, 2014, in DakarEmbattled 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. 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. 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.

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