Tinubu Seeks Lawmakers’ Nod for $2.2 Billion Loan
President Bola Tinubu has asked the National Assembly to approve a $2.209 billion external loan to address the 2024 budget deficit.
The request, outlined in a letter read by House of Representatives Speaker Abbas Tajudeen during Tuesday’s plenary session, highlights the loan as crucial for financing the gap in the upcoming budget.
Citing compliance with Sections 21(1) and 27(1) of the Debt Management Office Act, Mr. Tinubu noted that the proposal had already received the Federal Executive Council’s (FEC) endorsement.
The National Assembly is expected to deliberate on the request in the coming sessions.
