In a letter addressed to the National Assembly, President Tinubu, the total facility sought under the external borrowing plan includes USD 21,543,647,912, EUR 2,193,856,324.54, and 15 billion Japanese Yen, in addition to a grant of 65 million EUR.
The request aimed at financing critical infrastructure projects across various sectors of the economy—particularly infrastructure, health, education, and water supply—was read on the floor of the Senate during plenary today.
It has been referred to the Senate Committee on Local and Foreign Debts for further legislative scrutiny, with a report expected within two weeks.
In a separate request, President Tinubu also sought the Senate’s authorisation for the issuance of Federal Government bonds in the domestic debt market to settle outstanding pension liabilities under the Contributory Pension Scheme.
