Tinubu Asks NASS to Approve New $7.7bn Loan, Withdraws Previous External Borrowing Request

Tinubu asks NASS to approve new $7.7bn loan, withdraws previous external borrowing request

The new request provides more details about the proposed borrowing, including the sources of funds and the conditions under which they would be raised.

Nigeria’s debt burden deepens as Tinubu seeks fresh N10.79trn foreign loan

President Bola Tinubu’s latest request for approval to raise $7.7 billion in external loans has renewed concerns about Nigeria’s mounting debt obligations, the cost of servicing government borrowing and the pressure on public finances, as economists warn that fresh loans must translate into productive investments to prevent a deepening debt burden. The President has asked the Senate to approve N10.79 trillion, equivalent to $7.707 billion, in ex…

President Tinubu seeks Senate approval for $7.7bn borrowing - Newsy People

Home Politics President Tinubu seeks Senate approval for $7.7bn borrowing Politics By Linda Ikeji 4 November 2026, 2:35 pm President Bola Tinubu has asked the Senate to approve fresh external borrowing of $7.7 billion to finance the 2026 budget.   The request, equivalent to approximately N10.79 trillion at the budget exchange rate of N1,400 to […]

Nigeria Eyes Eurobond Market For $7.7bn As Tinubu Revises Foreign Borrowing Plan

The Federal Government is considering another major Eurobond issuance as President Bola Tinubu seeks to raise $7.7 billion from international lenders to finance part of Nigeria’s 2026 budget deficit. The proposed borrowing, valued at N10.79 trillion at the budget exchange rate of N1,400 per dollar, replaces an earlier request for $20.52 billion and €1.045 billion […]

Senate receives Tinubu’s request for N10.79trn external borrowing

The Senate has received a request from President Bola Tinubu seeking approval for N10.79 trillion external borrowing equivalent to approximately 7.7 billion US dollars to finance part of the 2026 budget deficit. Tinubu’s request was contained in a letter seeking the National Assembly for the implementation of external borrowings approved in the 2026 Appropriation Act. …

“Tinubu Withdraws $20.5bn, €1.05bn Loan Request” — Seeks Fresh $7.7bn Borrowing Approval From Senate

President Bola Tinubu has withdrawn his earlier request to the National Assembly to approve the processing of external loans worth $20.5 billion and €1.05 billion under the 2026–2027 Supplementary External Borrowing Plan. The president has instead requested approval for a new external borrowing plan of $7.7 billion to finance the 2026 budget deficit partly. The […]