Tinubu seeks NASS approval for $20.52bn, €1.04bn external loans

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By Omolola AfolabiPresident Bola Tinubu has asked the National Assembly to approve a supplementary external borrowing plan totalling $20.52 billion and €1.04 billion.

The proposed loans are intended to finance critical infrastructure projects, key economic programmes and development initiatives across various sectors of the economy.

The president’s request was formally transmitted to the National Assembly and read by Senate President, Godswill Akpabio, during Tuesday’s plenary session.

The proposal is expected to undergo legislative scrutiny as lawmakers examine the terms, viability and implementation framework of the proposed foreign borrowing.

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