Abuja, Oct. 30, 2025 – The National Assembly has approved additional $2.347 billion external loan to the federal government.
The loan was approved separately by the two chambers on Wednesday following the request from President Bola Tinubu to secure the loans to part-finance 2025 budget and refinance maturing Eurobond.
The approval was also granted for the issuance of a $500m debut Sovereign Sukuk at the international capital market
The loan approval in the House of Representatives was sequel to the adoption of a report of the House Committee on Aids, Loans, and Debt Management, presented by Abubakar Nalaraba.
The Senate’s approval also followed the adoption of a report by its Committee on Local and Foreign Debts presented by Senator Wamakko Aliyu.
