Tinubu Seeks Speedy Approval Of $7.8bn, €100m Borrowing Plan In Fresh Request To Senate

President Bola Tinubu has submitted a request to the Senate, seeking accelerated approval for the borrowing plan spanning 2022-2024.

During Wednesday’s plenary session, the Senate President, Godswill Akpabio, read a letter containing the president’s request.

The proposal aims to secure the sum of $7.8 billion and €100 million, earmarked for different projects and initiatives across various sectors of Nigeria’s economy.

They include infrastructure development, agricultural advancement, bolstering security, fostering employment opportunities, and enhancing healthcare, among others.

In his letter, Tinubu also disclosed that the World Bank Group had expressed interest in providing support of $1 billion and $2 billion for the mitigation of economic challenges and recent reforms confronting the country.

President Tinubu was referred to the committee on foreign affairs, finance, and national planning for deliberation and scrutiny.