President Bola Ahmed Tinubu has requested the approval of the National Assembly to secure a ₦1.15 trillion domestic loan aimed at bridging the deficit in the 2025 national budget.
The President’s request was conveyed through a letter read on the floor of the Senate by its President, Godswill Akpabio, during Tuesday’s plenary session. Tinubu explained that the proposed domestic loan would help finance critical components of the 2025 fiscal plan and ensure the smooth execution of government projects and programmes across the country.
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Following the presentation, Senator Akpabio referred the request to the Senate Committee on Local and Foreign Debts, chaired by Senator Aliyu Wamakko (APC, Sokoto North), with a directive to scrutinize the proposal and submit its report within one week.
The loan request, according to the Presidency, is part of a broader fiscal strategy to close funding gaps and maintain economic stability as the government intensifies efforts to implement its development agenda for 2025.
