Tinubu seeks Senate approval of $7.8bn, $100m 2022-2024 borrowing plan

President Bola Tinubu has asked the Senate to approve the sums of $7.8 billion and €100 million in his administration’s proposed 2022–2024 borrowing plan.

Tinubu’s request was contained in a letter read by Senate President Godswill Akpabio on the floor of the Red Chamber on Wednesday.

The President also disclosed that the World Bank Group initiated an interest in providing funding support of $1 billion and $2 billion to mitigate the economic shocks and recent reforms in the country.

The President asked the Senate to give the request a speedy consideration.

Akpabio referred the proposal to the committee of the foreign desk, finance, and national planning for further deliberation.