Tinubu Seeks NASS Approval for $20.5bn, €1.4bn External Loans
By Tams Jonah, ABUJA – President Bola Tinubu has approached the National Assembly for approval to secure $20.5 billion and €1.4 billion in external loans to finance critical development projects under the proposed 2026–2027 borrowing plan.
The proposed borrowing is part of the Federal Government’s efforts to mobilise funds for infrastructure and other priority projects, subject to legislative approval.
In a separate legislative move, the President has also submitted a bill to facilitate the transfer of convicted offenders between Nigeria and other countries.
The proposed legislation is expected to provide a legal framework for the transfer of convicted persons across international jurisdictions, subject to applicable laws and agreements.
The loan request and the proposed bill are among the matters before the National Assembly for consideration as the Federal Government pursues its development agenda and seeks to strengthen international cooperation on criminal justice.
Further details on the specific projects to be financed by the proposed loans and the provisions of the convicted-offender transfer bill were not contained in the information provided.
