President Bola Ahmed Tinubu has asked the National Assembly to approve a fresh ₦1.15 trillion domestic loan to finance the deficit in the 2025 national budget.
The request was contained in a presidential letter read on the floor of the Senate during Tuesday’s plenary session.
According to the letter, the borrowing is aimed at bridging the funding gap and ensuring the full implementation of government programmes and projects outlined in the 2025 fiscal plan.
The Senate President referred the proposal to the Senate Committee on Local and Foreign Debt, directing the committee to report back within one week for further legislative consideration.
