The Senate last Tuesday approved President Bola Tinubu’s external borrowing plan of over $21 billion for the 2025–2026 fiscal cycle.
The comprehensive borrowing package includes $21.19billion in direct foreign loans, €4billion, ¥15billion, a $65million grant and domestic borrowing through government bonds totalling approximately ₦757billion.
Also included was a provision to raise up to $2billion through a foreign-currency-denominated instrument in the domestic market.