Nigeria TV Info 
National Assembly Approves Tinubu’s ₦1.15tn Domestic Loan Proposal to Fund Key Projects

The National Assembly has approved President Bola Tinubu’s request to borrow ₦1.15 trillion from the domestic financial market to fund critical infrastructure and offset revenue shortfalls in the 2025 budget.

The approval, which followed the submission of a formal request by President Tinubu, was granted after thorough deliberations by both chambers. Lawmakers described the borrowing as essential for bridging fiscal gaps and sustaining ongoing capital projects, particularly in transportation, energy, and agriculture sectors.

Senate President Godswill Akpabio emphasized that the loan would be sourced locally to reduce foreign debt exposure and stabilize the naira. He also urged the executive to ensure transparency and accountability in managing the funds.

Meanwhile, some lawmakers cautioned against the rising debt profile, calling for improved revenue generation through tax reforms and diversification of the economy.

The ₦1.15 trillion facility is expected to be raised through government bonds and treasury instruments within the first quarter of 2025.