President Bola Tinubu has asked the National Assembly to approve a fresh ₦1.15 trillion loan from the domestic debt market to support the implementation of the 2025 budget.
His request was contained in a letter presented during Tuesday’s plenary session and read by the Senate leadership.
Tinubu explained that the borrowing is needed to finance the budget deficit and guarantee the smooth execution of ongoing government programmes and capital projects in 2025.
The Senate referred the proposal to its Committee on Local and Foreign Debt, with a directive to review the request and submit its report within a week for further legislative action.
