Tinubu Seeks National Assembly Approval For $20.5bn, €1.4bn Loans.
President Bola Tinubu has asked the National Assembly to approve external loans of $20.5 billion and €1.4 billion to finance critical development projects under the proposed 2026–2027 borrowing plan.
The President has also submitted a bill seeking to facilitate the transfer of convicted offenders between Nigeria and other countries.
The proposals were presented as the National Assembly resumed plenary on Tuesday.
Tinubu said the proposed external financing would help close infrastructure gaps and support economic development across key sectors, including power, transportation, agriculture, healthcare, education, water supply and security. Senate President Godswill Akpabio announced the President’s requests during plenary. According to the President, the projects were selected based on technical and economic assessments and are expected to create jobs, promote skills acquisition and entrepreneurship, reduce poverty and strengthen food security. The projects are also expected to be implemented across the states and the Federal Capital Territory.
MSEApp News is publishing an original rewrite of this tip for readers, based on reporting associated with Arise News.
Readers should treat early accounts as developing. Official statements may add detail. MSEApp News will update coverage if material facts change.