JUST IN: Tinubu seeks Senate approval for $20.52bn, €1.05bn external loans
President Bola Tinubu has asked the Senate to approve the Federal Government’s 2026–2027 Supplementary External Borrowing Plan, involving $20.52bn and €1.05bn, to finance infrastructure and development projects across the country. The request, which was transmitted to the National Assembly, was read by the President of the Senate, Senator Godswill Akpabio, during Tuesday’s plenary. In the Read…
President Bola Tinubu has requested Senate approval for the Federal Government’s 2026–2027 Supplementary External Borrowing Plan, which includes $20.52bn and €1.05bn. The funds aim to finance infrastructure and development projects across Nigeria, with a focus on sectors such as infrastructure, agriculture, healthcare, education, water supply, security, employment generation, and financial management reforms.
Tinubu emphasized that the external borrowing is necessary to address Nigeria’s infrastructure deficit and bridge the funding gap, which hinders the implementation of development projects.
Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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