President Bola Ahmed Tinubu has formally requested the National Assembly’s approval to secure an additional loan of N3.54 trillion (approximately $2.35 billion) to finance the federal government’s budget deficit. This move is part of ongoing efforts to address Nigeria’s fiscal challenges and stimulate economic growth.
The request was submitted to the National Assembly on Tuesday, October 7, 2025, and is currently under consideration. If approved, the loan will contribute to funding critical infrastructure projects and social initiatives aimed at improving the living standards of Nigerians.
The administration emphasizes that the loan is essential for bridging the funding gap in the 2025 budget and ensuring the timely implementation of key development programs. However, concerns have been raised regarding the potential impact of increased borrowing on the nation’s debt sustainability and economic stability.
As discussions continue, stakeholders are closely monitoring the situation to assess the long-term implications of the proposed loan on Nigeria’s financial health.
