• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, August 27, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

In 48 Hours, NASS Approves Tinubu’s N1.77trn Loan Request

by Sunday Isuwa and James Kwen
9 months ago
in News, Cover Stories
Share on WhatsAppShare on FacebookShare on XTelegram

Within 48 hours of President Bola Ahmed Tinubu writing to the National Assembly seeking approval to borrow N1.767 trillion (about $2.209 billion), the lawmakers have approved the request.

Advertisement

The loan was approved in the Senate, presided over by Deputy Senate President Barau Jibrin, after the Senate Committee on Local and Foreign Debts, chaired by Senator Wammako Magatarkada (APC, Sokoto North), presented its report.

The House also swiftly approved the request after considering the Committee on Aids, Loans and Debt Management report, chaired by Hon Abubakar Hassan Nalaraba (APC, Nasarawa), at the plenary on Thursday.

Consequently, the House approved the implementation of the new external borrowing of N1.767 trillion at the Budget exchange rate of USD1.00/800 in the 2024 Appropriation Act, with the amount to be raised from one or more sources.

These include the issuance of Eurobonds in the ICM, debut sovereign Sukuk in the ICM, and Bridge/syndicated loans, subject to market conditions.

RELATED

Imo Descending To A Failed State, Says Ihedioha

Okigwe Killings Represent Governance Failure – Ihedioha

45 minutes ago
Nigeria’ll Rise On Tech, Food Security — Tinubu

Nigeria’ll Rise On Tech, Food Security — Tinubu

1 hour ago
ADVERTISEMENT

According to the approved report, “based on availability and cost, to issue Eurobonds in the sum of USD1.70 billion or more, but not more than USD2,209,512,902,22b, approved as New External Borrowing in the 2024 Act.

The fresh loan is expected to increase the federal government’s debt servicing spending. The Central Bank of Nigeria said it cost the Federal Government $3.58 billion to service foreign debt in the first nine months of 2024.

The CBN report on international payment statistics showed that this amount represents a 39.77 per cent increase from the $2.56bn spent during the same period in 2023.

ADVERTISEMENT

According to the report, while the highest monthly debt servicing payment in 2024 occurred in May, amounting to $854.37m, the highest monthly expenditure in 2023 was $641.70m, recorded in July.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: Loan request
SendShare10192Tweet6370Share
ADVERTISEMENT
Previous Post

Cabinet Shake Up And Other Matters

Next Post

Lottery Generated N200bn Revenue In 2023 – Speaker Abbas

Sunday Isuwa and James Kwen

Sunday Isuwa and James Kwen

You May Like

Imo Descending To A Failed State, Says Ihedioha
News

Okigwe Killings Represent Governance Failure – Ihedioha

2025/08/27
Nigeria’ll Rise On Tech, Food Security — Tinubu
News

Nigeria’ll Rise On Tech, Food Security — Tinubu

2025/08/27
2023 Polls: Blame INEC, Not Atiku, Aide Replies Adeyanju
News

Oyo APC Tasks INEC On Hitch-free Voter Registration Exercise

2025/08/27
NECO To Conduct SSCE In Saudi Arabia
News

NECO Denounces Fake Recruitment Notice

2025/08/27
Kwara Varsity Lecturers Stage Peaceful Protest, Demand Payment Of EAA, Others
News

Kwara Varsity Lecturers Stage Peaceful Protest, Demand Payment Of EAA, Others

2025/08/27
June 12: Democracy Has Come To Stay In Nigeria — Gov Mohammed
News

Bauchi Records 70% 2025 Budget Performance

2025/08/27
Leadership Conference advertisement

LATEST

Okigwe Killings Represent Governance Failure – Ihedioha

Nigeria’ll Rise On Tech, Food Security — Tinubu

Oyo APC Tasks INEC On Hitch-free Voter Registration Exercise

Security Agents Arrest 2 Suspected Vandals In Akwa Ibom

NECO Denounces Fake Recruitment Notice

Crystal Palace Approach Man City For Akanji

Kwara Varsity Lecturers Stage Peaceful Protest, Demand Payment Of EAA, Others

Crystal Palace Agree £26m Deal For Villarreal Winger Pino

Bauchi Records 70% 2025 Budget Performance

Edo At 34: Okpebholo Celebrates Founding Fathers, Sue For Unity

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.