Tinubu seeks N1.7 trillion loan from parliament Nigerian President Bola Tinubu has sought N1.767 trillion loan from abroad to bridge the 2...

 Tinubu seeks N1.7 trillion loan from parliament

Nigerian President Bola Tinubu has sought N1.767 trillion loan from abroad to bridge the 2024 budget gap.

Tinubu made the request in a letter he sent to the Senate President, Godswill Akpabio, and the Speaker of the House of Representatives, Tajudeen Abbas, which was read out by them on Tuesday.

Of the funds approved by the executive council, N9.7 trillion will be used to bridge the 2024 budget gap, if approved by the council.

Tinubu also presented the draft budget for the years 2025 to 2027 to the lawmakers, along with a resolution to enact a social welfare bill to make the national registry a tool for the betterment of Nigerians.

Last week, the government said it would borrow $2 billion from foreign countries to use in various sectors.