President Bola Tinubu has formally requested the Senate to approve the Federal Government’s 2026–2027 Supplementary External Borrowing Plan, amounting to $20.52 billion and €1.05 billion.
CDA News Nigeria gathered that the request was transmitted to the National Assembly and read by the President of the Senate, Senator Godswill Akpabio, during Tuesday’s plenary.
According to the letter, the funds will finance critical infrastructure and development projects across the 36 states and the FCT, focusing on agriculture, healthcare, education, water supply, security, and employment generation.
“I submit the attached Federal Government 2026–2027 Supplementary External Borrowing Plan for consideration and early approval of the National Assembly to ensure prompt implementation of our projects,” Tinubu wrote.
Reacting to the request, Akpabio noted that an external borrowing plan was previously approved in the budget. He stated that the new request will be referred to the Senate Committee on Local and Foreign Debts, in collaboration with the Appropriations and Finance committees, for thorough scrutiny.
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