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.
Students and staff at a school in Ogba, Lagos, narrowly escaped a tragedy on Monday…
The African Democratic Congress (ADC) has called for the arrest and investigation of Charles Wobodo,…
The Court of Appeal in Abuja has rejected Ondo State Governor Lucky Aiyedatiwa’s appeal challenging…
Lawyers to former Kaduna State governor Nasir El-Rufai have accused the Independent Corrupt Practices and…
The Court of Appeal in Abuja has rejected an appeal filed by the Peoples Democratic…
Fresh violence has broken out in Lamurde Local Government Area of Adamawa State following clashes…