Tinubu Seeks Fresh $7.7bn Loan President Bola Ahmed Tinubu has formally requested approval from the National Assembly to secure a fresh external loan of $7.7 billion (approximately ₦10.79 trillion) to part-finance the Federal Government’s ₦31.4 trillion budget deficit for the 2026 fiscal year. NIMC Reveals How Nigerians Can Download NIN Slip Free Through NINAuth App
Tinubu Seeks Fresh $7.7bn Loan
President Bola Ahmed Tinubu has formally requested approval from the National Assembly to secure a fresh external loan of $7.7 billion (approximately ₦10.79 trillion) to part-finance the Federal Government’s ₦31.4 trillion budget deficit for the 2026 fiscal year.
NIMC Reveals How Nigerians Can Download NIN Slip Free Through NINAuth App
The request, contained in a letter dated October 26, 2026, and addressed to the Senate President, was read on the floor of the upper legislative chamber during Wednesday’s plenary.
blob:https://www.image2url.com/6b1201f1-93ee-44f9-bbeb-45816585e575
Following its presentation, the Senate referred the executive communication to its Committee on Local and Foreign Debts for further legislative consideration and reporting.
The committee’s report is expected back on the Senate floor as soon as practicable as public debate continues over Nigeria’s debt sustainability and fiscal management.
Leave a Comment
Your email address will not be published. Required fields are marked with *