President Bola Tinubu has asked the National Assembly to approve the Federal Government’s 2026–2027 Supplementary External Borrowing Plan, involving $20.52 billion and €1.045 billion, to finance critical infrastructure and development projects across Nigeria. The request was conveyed in a letter read by Senate President Godswill Akpabio during Tuesday’s plenary.
Borrowing request
The President said the proposed facilities—valued at $20,517,755,901 and €1,045,083,643—would close funding gaps and support projects in infrastructure, agriculture, healthcare, education, water supply, security, employment generation, and public financial management reforms.
He urged lawmakers to grant early approval to enable prompt implementation of the projects, many of which are expected to cut across the 36 states and the Federal Capital Territory.
The Senate referred the request to the Committee on Local and Foreign Debts, in collaboration with the Committees on Appropriation and Finance, with a directive to submit its report within one week.
Legislative scrutiny
Senate President Akpabio clarified that the request was not entirely fresh borrowing, explaining that some components had already been captured in the previously approved 2025–2026 rolling borrowing plan.
The development comes amid continued public scrutiny of Nigeria’s growing debt burden and the cost of servicing external loans, making the committee’s review and the eventual terms of the facilities likely to attract close attention.
Prisoner-transfer bill
In a separate communication, President Tinubu transmitted the Transfer of Convicted Offenders (Enactment and Enforcement) Amendment Bill, 2026, to the Senate for consideration.
The bill seeks to amend the existing Transfer of Convicted Offenders Act to strengthen Nigeria’s legal framework for implementing prisoner-transfer agreements, particularly with countries outside the Commonwealth. It would also empower the executive to extend the law to countries with which Nigeria has concluded such agreements.
The Senate referred the bill to the Committee on Rules and Business for further legislative action.
