Tinubu Seeks ₦10.8 Trillion Foreign Loan, Asks Reps to Approve Fresh Borrowing

Tinubu Seeks ₦10.8 Trillion Foreign Loan, Asks Reps to Approve Fresh Borrowing

President Bola Tinubu has asked the House of Representatives to approve a fresh external borrowing of about ₦10.8 trillion to fund the 2026 national budget.

News clarification: The request is for ₦10.79 trillion (about $7.7 billion) in external loans. It was first presented to the Senate on November 4, 2026, and referred to the relevant committee for consideration.