Nigerian House of Reps: $5bn Swap Deal & Port Loan – March 2026

On Tuesday, 31 March 2026, the Nigerian House of Representatives had two major foreign borrowing requests on its agenda, both handled by the Committee on Aids, Loans and Debt Management. The items involved a $5 billion financing arrangement with a UAE bank and a separate $1 billion loan for rehabilitating two Lagos ports.

These deals, if approved, would add to Nigeria's external debt and directly affect government spending and port infrastructure.