Nigeria · Story · Politics
Tinubu requests Senate approval for $28.22bn in loans
President Bola Tinubu has sought Senate approval for $28.22 billion in loans to finance infrastructure and address budget deficits in Nigeria.
Running story — the local press covered it again on 4 November 2026.
The story so far as of 4 November 2026
On 27 October, President Bola Tinubu requested the Nigerian Senate's approval for a supplementary external borrowing plan of $20.52 billion and €1.05 billion to finance infrastructure projects. Senate President Godswill Akpabio presented the request during a plenary session. On 4 November, Tinubu sought Senate approval for an additional $7.7 billion loan to part-finance the 2026 budget deficit and support key sectors of the economy, marking a shift from a previous borrowing plan that was withdrawn.
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Coverage, day by day
- Regulation
Tinubu seeks Senate approval for $7.7bn loan
Impact Lenders and investors in Nigeria's public sector will see changes in borrowing strategies and fiscal planning.
Sources: Premium Time ↗, Punch ↗
- Politics
Tinubu seeks Senate approval for $20.52bn loans
Impact Lenders to Nigeria and infrastructure investors will monitor Senate's decision on the substantial loan request.
Sources: Punch ↗, Daily Trust ↗
Sources in this story
Sources: each headline links to the original article on the publisher's site.