The request was contained in a letter read during Tuesday’s Senate plenary.
In the letter, Tinubu explained that the borrowing is necessary to close the funding gap and ensure the smooth execution of government projects and programs outlined in the 2025 fiscal plan.
After reading the letter, the Senate President forwarded the request to the Senate Committee on Local and Foreign Debt, directing the committee to review it and submit a report within a week for further consideration.
This comes a few days after the House of Representatives approved President Bola Tinubu’s request to borrow $2.35 billion to help cover part of Nigeria’s 2025 budget deficit.
Siminalayi Fubara, the Governor of Rivers State, has declared support for President Bola Tinubu’s bid…
Iyabo Obasanjo, a former aspirant for the Ogun State governorship under the All Progressives Congress…
American comedian and actress Tiffany Haddish said she is not interested in a sexual relationship…
Nigerian media personality Roby Ekpo has reacted to the cease-and-desist notice sent by his estranged…
President Bola Tinubu has asked the Senate to approve a $516.3 million foreign loan to…
Nigerian singer BNXN, formerly known as Buju, has reacted to comments made by American rapper…