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🇳🇬 NigeriaBusinessStory: Nigeria’s foreign borrowing

Tinubu asks Nigeria's Parliament for $7.7 billion loan

By , based on Premium Times

Tinubu asks Nigeria's Parliament for $7.7 billion loanLula Oficial · CC BY-SA 4.0

Nigerian President Bola Tinubu is asking Parliament for authorisation to take out a new $7.7 billion loan and is withdrawing his previous external financing request. The new proposal specifies the potential lenders and the conditions for raising the funds, according to Premium Times.

Nigerian President Bola Tinubu has asked the Federal Parliament for authorisation to take out a loan of $7.7 billion. The new request provides more details on the proposed sources of funding and the conditions for raising the funds, Premium Times reports.

The request replaces a previous external borrowing request submitted by Nigeria's executive branch, which Bola Tinubu wants to withdraw, according to Premium Times.

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Ongoing story · day by day

Nigeria’s foreign borrowing

Tinubu requests 21.565 billion in foreign borrowing, which Atiku is urging the Senate to reject before senators consider it.

The latest developments

Earlier in this story

  1. 28 OctNigeria’s Senate reviews Tinubu’s $21.565 billion borrowing plan
  2. 27 OctNigerian senator Victor Umeh challenges new foreign borrowing
  3. 27 OctAtiku asks Nigerian Senate to reject $20.52 billion borrowing
  4. 27 OctTinubu seeks $20.52 billion and €1.045 billion in external loans
The whole story: 8 articles →

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