President Bola Ahmed Tinubu has formally requested the approval of the Nigerian Senate for a fresh $6 billion external loan.
The request, which was transmitted to the Senate, is part of the Federal Government’s efforts to secure funding for key projects and support ongoing economic reforms.
Details of the loan request, including specific projects and repayment structure, are expected to be considered by lawmakers in the coming days.
If approved, the borrowing would add to Nigeria’s external debt profile, a move that may spark debate among policymakers and economic analysts over debt sustainability and fiscal management.
The Senate is expected to deliberate on the proposal and communicate its decision after due legislative review.