Our dear President Goodluck Jonathan asks for $1,000,000,000 for Army equipment and modernization.

President Goodluck Jonathan

Jonathan has asked the House of Representatives to grant approval to his government to borrow an external loan of $1bn, approximately equal N165bn. The president’s inquiry became known during the House’s plenary in Abuja on Wednesday, July 16. The money is said to be used to upgrade the equipment of the Armed Forces.
In his letter entitled Tackling Ongoing Security Challenges for Urgent Action and addressed to the Speaker of the House of Representatives, Aminu Tambuwal, President Jonathan wrote:
“You are no doubt cognizant of the ongoing serious security challenges, which the nation is facing as typified by the Boko Haram terrorists threat. This is an issue that we have discussed at various times. 
“I would like to bring to your attention the urgent need to upgrade the equipment, training and logistics of our Armed Forces and security services to enable them be more forceful to confront this serious threat.
“For this reason, I seek the concurrence of the National Assembly for external borrowing of not more than $1 billion, including government to government arrangements for this upgrade.”
However, the president will have to wait for the funds at least till the end of September 2014, as the House of Representatives are on their annual recess from July 18, 20