President Bola Tinubu has asked the Senate to approve a fresh N1.150 trillion loan programme as part of the resources to fund Nigeria’s 2025 budget.
The request was contained in a letter read by the Senate President, Godswill Akpabio, during plenary on Tuesday.
In the letter, President Tinubu explained that the facility would be sourced from the domestic debt market.
He said the borrowing had become necessary due to the increased size of the 2025 budget.
The president noted that his request was made in accordance with Section 44 (1) and (2) of the Fiscal Responsibility Act.
After reading the correspondence, Mr A
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