Jonathan seeks $1bn war chest against B’Haram

President Goodluck Jonathan has written to the national assembly to approve his plans to borrow $1 billion to prosecute the war against Boko Haram.

This is beside the roughly $6 billion security expenditure already appropriated in the 2014 budget.

In a letter to both the senate and house of representatives, Jonathan said the fund is to help the armed forces tackle the security threat posed by terrorism.

He said the fund will be used to upgrade the equipment, training and logistics of the forces.

He wrote: “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.

“For this reason, I seek the concurrence of the National Assembly for external borrowing of not more than $1 billion.”

He said the security upgrade could include a “government to government arrangement”.

The country has entered into co-operation with neighbouring countries ─ Niger, Chad, Cameroon and Benin ─ to tackle the insurgency.

This co-operation includes having a standby international force as well as sharing intelligence and reconnaissance.

This was after the French president Francois Hollande hosted the leaders of the countries to a security summit in Paris in May (pictured).

This agreement was reached after the 2014 budget had been passed ─ although the country is also enjoying technical and logistics support from Western powers in its war.