President Bola Tinubu has formally asked the National Assembly to approve a $21.5 billion external loan and a ₦758 billion domestic bond to settle pension arrears and fund critical infrastructure projects.
The requests were read on the Senate floor yesterday, May 27 and have been referred to the Committee on Local and Foreign Debts for review within two weeks.
The bond issuance aims to clear outstanding liabilities under the Contributory Pension Scheme, while the loans will support projects in health, education, and water supply.
Tinubu also seeks approval for additional borrowing from the domestic market to boost investments and reduce Nigeria’s infrastructure gap.
