November 28, (THEWILL) – President Tinubu, on Tuesday, asked the National Assembly to consider and approve his request to obtain a loan of $8.69bn and €100 million as part of the 2022-2024 external borrowing plan of the Federal Government.
Tinubu’s letter of request was conveyed in two separate letters addressed to the Senate and the House of Representatives.
Senate President Godswill Akpabio, on Tuesday, at plenary, read the President’s request.
President Tinubu noted that the World Bank and African Development Bank (AfDB) have indicated interest in supporting the loan with $1 billion and N1.5 billion respectively.
In a separate letter to the House of Representatives, President Tinubu also asked the green chamber to approve a $8.69bn and €100m external borrowing plan for critical infrastructure in areas such as power, roads, water, railway, and health.
The President also forwarded the Federal Capital Territory Supplementary Budget to the House for consideration.
