The Senate has approved President Bola Tinubu’s ₦1.77 trillion ($2.2b) loan request following a voice vote in favour of the proposal. The approval came after the Senate Committee on Local and Foreign Debts, led by Senator Wammako Magatarkada (APC, Sokoto North), presented its report. This loan request, submitted by the President on Tuesday, is part … Read more
The Nigerian Senate is set to approve President Bola Tinubu’s $2.2 billion (approximately ₦1.77 trillion) external loan request aimed at addressing the ₦9.7 trillion deficit in the 2024 budget. The request, outlined in letters presented during Tuesday’s plenary sessions of the Senate and House of Representatives, is part of the government’s external borrowing plan … Read more
President Bola Tinubu has submitted a request to the National Assembly for approval of a fresh external borrowing plan amounting to ₦1.767 trillion. The loan is intended to partially bridge the ₦9.7 trillion budget deficit in the 2024 appropriation act. The Speaker of the House of Representatives read the president’s request during Tuesday’s plenary. If … Read more
The National Assembly is looking to give legislative approval to the Executive loan request to fund the 2021 Appropriation Act before it embarked on a recess in July. President of the Senate, Ahmad Lawan, has explained why it is important for the Nigerian government to continue to borrow responsibly to fund critical projects in the … Read more