Senate Approves Tinubu’s $21 Billion Foreign Loan Request for 2025–2026 Budget Implementation

Senate Approves Tinubu’s $21 Billion Foreign Loan Request for 2025–2026 Budget Implementation

The Nigerian Senate has officially approved President Bola Tinubu’s plan to secure over $21 billion in foreign loans to support the execution of the 2025 Appropriation Act and sustain fiscal activities through 2026.

The approved borrowing package includes $21.19 billion in external loans, €4 billion, ¥15 billion, a $65 million grant, and domestic borrowing via government bonds totaling approximately ₦757 billion.

 Additionally, the framework allows for raising up to $2 billion within the local market through foreign currency denominated instruments.