President Tinubu seeks approval from Senate for $20.52bn, €1.05bn external loans

President Bola Tinubu has asked the Senate to approve a proposed external borrowing plan worth $20.52bn and €1.05bn to fund infrastructure and development projects under the Federal Government’s 2026–2027 Supplementary External Borrowing Plan.
The request was presented to the Senate during Tuesday’s plenary, where Senate President Godswill Akpabio read Tinubu’s letter seeking legislative approval for the proposed financing.
The plan provides for external loans of $20,517,755,901 and €1,045,083,643, which the President said would support projects in infrastructure, agriculture, healthcare, education, water supply, security, employment generation and public financial management.
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