President Bola Tinubu has asked the National Assembly to approve a ₦1.15 trillion loan from the domestic market to cover the 2025 budget deficit.
In a separate move, the Federal Government, through the Debt Management Office, plans to raise $2.3 billion from the international market — Nigeria’s first Eurobond issuance since December 2024. The fund is aimed at bridging revenue shortfalls and sustaining key projects under the 2025 fiscal plan.
Tinubu’s request, read on the Senate floor on Tuesday, was referred to the Committee on Local and Foreign Debt, which has one week to submit its report.
The new borrowing plan has drawn criticism from opposition figures and citizens who question the government’s rising debt levels despite the removal of fuel subsidy.
