Tinubu Seeks Senate Approval for ₦1.15 Trillion Domestic Loan

Former Lagos State Governor, Bola Ahmed Tinubu, has formally requested the Nigerian Senate's approval for a ₦1.15 trillion domestic loan to bridge the funding gap in the 2025 national budget. The loan, part of the government's domestic financing plan, is intended to support priority projects, social investments, and ongoing economic reforms.

The Senate President, Godswill Akpabio, referred the request to the Senate Committee on Local and Foreign Debt for detailed legislative review. Economists and financial analysts have expressed concerns over the country's increasing debt service burden.

The loan approval process is ongoing in the upper chamber of the Nigerian legislature.