Bola Tinubu Seeks N1.15 Trillion Loan Approval for 2025 Budget Funding
Nigerian politician Bola Tinubu seeks Senate approval for a N1.15 trillion domestic loan to finance the 2025 budget, addressing the deficit. The loan is intended to support key infrastructure investments, social programs, and economic growth initiatives outlined in the fiscal plan.
The request aligns with the government's fiscal strategy to stimulate the economy and improve citizen welfare. Tinubu's proposal follows the House of Representatives' approval of a previous loan request.
The Debt Management Office successfully raised N1.39 trillion through a Sukuk bond issuance to support infrastructure projects. The Senate will deliberate on Tinubu's request within a week.
Plus234Feed summary based on reporting from NairaMetrics. Read the original report below.
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