President Bola Ahmed Tinubu has formally written to the Senate seeking approval to borrow $6 billion in external loans to support key government projects and address budgetary needs.
The request, presented in a letter to Senate President Godswill Akpabio and read during plenary, outlines plans to secure funding for critical national development priorities.
Reports indicate that part of the proposed borrowing includes a $5 billion facility, alongside other funding arrangements aimed at boosting infrastructure and economic activities.
The move is expected to spark conversations around Nigeria’s rising debt profile, as lawmakers deliberate on the request in the coming days.