Nigerian Senate Approves Loans for Tinubu Amid Rising Debt Concerns
The Nigerian Senate has approved President Bola Ahmed Tinubu's request for loans totaling 2.847 billion to support Nigeria's 2025 budget. The loans include international financing to cover the budget deficit and fund critical infrastructure projects.
Concerns were raised about the country's increasing debt profile, with the Debt Management Office reporting a debt of 97 trillion by mid-2025. Senate members emphasized the necessity of the loans to maintain economic stability and uphold Nigeria's credit reputation internationally.
The loans are part of efforts to sustain national projects and manage debt obligations in line with the 2025 fiscal framework.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
Read full article
Continue on Legit NG
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Nigeria's House of Reps Approve $2.35bn Loan Request Amid Debt Concerns
Tinubu Seeks N’Assembly Approval for $2.35bn Loan and $500m Sukuk
Tinubu Seeks House Approval for $2.8bn Foreign Loans for Nigeria
Tinubu Seeks Senate Approval for ₦1.15 Trillion Domestic Borrowing to Bridge 2025 Budget Gap
Nigerian House of Representatives Approves External Borrowing to Finance Budget Deficit
Experts Debate Tinubu's $2.84bn Borrowing Plan
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
