President Bola Tinubu has requested the National Assembly’s approval to borrow an additional N1.15 trillion from the domestic debt market to cover the deficit in the 2025 budget.
The request from Tinubu was communicated in a letter read on the Senate floor during plenary on Tuesday.
According to the letter, the proposed borrowing aims to bridge the funding gap and ensure the full execution of government programs and projects outlined in the 2025 fiscal plan.
Senate President Godswill Akpabio subsequently referred the request to the Senate Committee on Local and Foreign Debt to report back within one week for further legislative action.
Details shortly…
