President Bola Tinubu has asked the National Assembly to authorise an additional ₦1.15 trillion borrowing from the domestic debt market to bridge the funding shortfall in the 2025 budget. The request was read on the floor of the House of Representatives on Wednesday by Speaker Abbas Tajudeen, who said the proposal aims to cover the…
Nigeria’s House of Representatives has approved President Bola Tinubu’s plan to raise $2.347 billion from international lenders and investors, paving the way for a mix of Eurobonds, syndicated loans, and an inaugural $500 million Sukuk issuance aimed at financing next year’s budget and managing the nation’s maturing debts. The lower chamber’s approval came on Wednesday…
The Federal Government says it will continue to borrow within manageable and sustainable limits in accordance with the Debt Management Office (DMO) debt sustainability framework. This is contained in a statement by the Director, Information and Public Relations in the Ministry of Finance, Mr Mohammed Manga, in Abuja on Wednesday. The News Agency of Nigeria…
President Bola Tinubu has sought the approval of the Senate for the 2025-2026 external borrowing plan of 21.5billion dollars. The president also sought the approval of the senate for a loan request of 15 billion Japanese Yen and 51 million Euros grant. The News Agency of Nigeria (NAN) reports that Tinubu’s request is contained in…
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) alongside the Organized Private Sector of Nigeria (OPSN) has raised alarms about Nigeria’s significant public sector deficit, which poses a serious risk to the Federal Government’s objective of transforming the nation into a $1 trillion economy by the year 2030. In a recent…
