Reps Approve Tinubu’s $2.35B Loan to Fund Nigeria’s 2025 Budget Deficit

Tinubu

The House of Representatives has approved President Bola Ahmed Tinubu’s request to raise $2.35 billion in external borrowing to help finance the 2025 federal budget deficit. The approval includes arrangements for refinancing maturing debt and issuing Nigeria’s debut sovereign Sukuk. The borrowing plan, equivalent to about ₦1.84 trillion, aims to partially cover the budget deficit, estimated at […]