President Bola Tinubu has asked the Senate to approve $20.51bn and €1.45bn in external borrowing to address funding gaps in the Federal Government’s 2026–2027 supplementary borrowing plan.
The President’s request was conveyed in a letter which Senate President Godswill Akpabio read during plenary on Tuesday.
According to the letter, the requested funds—specifically $20,517,755,901 and €1,045,083,643—are earmarked to address Nigeria’s persistent infrastructure deficit and bridge critical funding gaps across vital socio-economic sectors.
The primary targets for investment include power, transportation, healthcare, education, agriculture, water supply, security, job creation, and financial management reforms.
