Senate Approves Tinubu’s Fresh $2.2Billion Loan Request

Nigerian Senate has given President Bola Tinubu permission to borrow N1.77 trillion to fund part of the 2024 budget.

The Senate gave the approval on Thursday in plenary after the presentation of a report of its committee on Local and Foreign Debt headed by Senator Aliyu Wammako.

In a brief remark, Deputy President of the Senate, Jibrin Barau, noted that the decision to approve the new external borrowing of 2.2 billion dollars (N1.77 trillion) was in the interest of the country.

Recall that President Tinubu had on Tuesday written to the Senate to consider and approve the sum of N1.77 trillion to fund the deficit in the 2024 Appropriation Act.