Nigeria leader wants $1 bln loan to help fight Boko Haram

Nigerian President Goodluck Jonathan on Wednesday sought approval from parliament to borrow up to $1 billion abroad to help the armed forces tackle the security threat posed by the Islamist insurgent group Boko Haram. Jonathan, facing intense criticism at home and overseas for his government's failure to curb a spreading campaign of violence by the Islamist militants, made the request in a letter read to Nigeria's Senate and House of Representatives. ‘You are no doubt cognisant of the on-going and serious security challenges which the nation is facing as typified by the Boko-Haram terrorist threat,’ Jonathan said in the request, read to deputies by the leaders of the Senate and House. ‘For this reason, I seek the concurrence of the National Assembly for external borrowing of not more than $1 billion,’ the president said, adding this would be used to upgrade the equipment, training and logistics of the security forces, according to Reuters.