News Report – July 23, 2025
President Bola Ahmed Tinubu has formally sought the approval of the House of Representatives for a new loan facility intended to bolster Nigeria’s economic stability and finance key developmental projects.
The loan request, which was presented to the lower chamber on Tuesday, outlines the Federal Government’s plan to source additional funding from external and domestic creditors to support infrastructure, education, health, and other priority sectors in the 2025 fiscal year.
In a letter addressed to the Speaker of the House, the President emphasized the urgent need for legislative backing to facilitate timely disbursement and effective implementation of the loan components. He assured lawmakers that the loan terms are favorable and aligned with Nigeria’s debt sustainability framework.
The House is expected to deliberate on the request in the coming days, as committees on finance and national planning begin reviewing the proposal in line with due legislative processes.
This latest move comes amid ongoing efforts by the Tinubu-led administration to improve revenue generation, reduce the budget deficit, and stimulate economic growth through strategic borrowing and prudent fiscal management.
