Nigerian Senate Approves ₦1.15 Trillion Borrowing Request by Tinubu

The Nigerian Senate has approved President Tinubu's request to borrow ₦1.15 trillion from the domestic debt market to fund the deficit in the 2025 national budget. The approval followed the presentation of a report by the Senate Committee on Local and Foreign Debt, chaired by Senator Aliyu Wamakko.

Vice Chairman Senator Haruna Manu sought the Senate's endorsement to bridge the funding gap for the fiscal year 2025. The borrowing is intended to support the implementation of key government programs and projects.