Tinubu Seeks National Assembly’s Approval for $20.5bn, €1.04bn External Loans
* President cites infrastructure deficit, economic growth, security, agriculture, healthcare, education as priorities * Senate refers supplementary borrowing plan to debt committee, gives one week to report Sunday Aborisade in
President Bola Tinubu has requested approval from Nigeria's National Assembly for a supplementary external borrowing plan worth $20.52 billion and €1.045 billion. The funds are meant to address critical sectors such as infrastructure, agriculture, healthcare, education, water supply, security, employment generation, and financial management reforms.
The plan, which covers sectors across the 36 states and the Federal Capital Territory, aims to accelerate economic growth, generate employment, improve living conditions, and enhance food security. The president emphasized that the projects and programs have undergone technical and economic evaluations to ensure their potential contributions to national development.
The supplementary borrowing plan is seen as necessary to bridge the funding gap for the country's infrastructure needs and to support the government's reforms. Approval from the National Assembly is crucial for the timely disbursement and effective implementation of the proposed projects.
Written by urgent.news from This Day's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
