The Nigerian Senate has approved President Bola Tinubu’s 2025–2026 borrowing plan, which includes new external loans of $21.5 billion, €2.2 billion, 15 billion Japanese Yen, and a €65 million grant.
It also endorsed a $2 billion foreign currency bond programme to be issued locally—an unprecedented move aimed at harnessing foreign exchange liquidity within Nigeria to finance critical infrastructure.
Also Read: President Tinubu Seeks NASS Approval for $21.5bn Loans, Pension Bond
The approvals followed a report by Senator Aliyu Wamakko, who confirmed that the proposed loans are on concessional terms, featuring low interest rates and extended repayment periods.
The Senate also backed the president’s request to raise ₦758 billion through domestic bonds to clear outstanding pension liabilities dating back to 2023.
Both measures form part of the 2025 Medium-Term Expenditure Framework, targeting key sectors such as education, health, agriculture, water, and infrastructure.
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