Tinubu is looking for Nass approval for a loan plan of $ 21.5 billion, € 2.19 billion, ¥ 15 billion, € 65 million subsidies

President Bola Ahmed Tinubu has formally requested the approval of the National Assembly (NASS) for an $ 21.5 billion external loan plan for 2025-2026 and a program of $ 2 billion foreign currency bonds.

The presidency, in a separate letter for both chambers of the National Assembly and read by the President of the Senate Godswill Akpabio and the speaker Abbas Tajudeen during Tuesday’s plenary.

The speaker, while reading the three letters, observed that the series of significant financial initiatives aimed to stabilize the economy, financing critical infrastructures and facing long -standing pension liabilities.

On the request for an $ 21.5 billion external loan plan for 2025-2026, President Tinubu presented the external rolling plan of 2025-2026 of the Federal Government for a total of $ 21.54 billion, 2.19 billion euros and ¥ 15 billion (Japanese Yen), together with a grant of € 65 million.

According to him, the proposed loan plan will focus on critical sectors including infrastructure, agriculture, health, education, water resources, safety and financial management reforms.

He explained that the projects and programs under the plan had undergone technical and economic assessments and were chosen for their potential to stimulate the creation of jobs, increase food safety, improve the means of subsistence and face the infrastructure deficit of Nigeria.

President Tinubu added that the loans had become necessary following the removal of fuel subsidies, tax constraints and internal revenues down.

On the program of bonds called in foreign currency of $ 2 billion, President Tinubu asked for the approval of the National Assembly for the establishment of an issue program called in foreign currency in the internal debt market.

According to him, the 2 billion dollars proposed would have been implemented by the office for debt management (DMO) in line with the presidential executive order on the financial instruments called in foreign currency, program of local issues, 2023.

The president stressed that the proceeds of the obligation would have been lined up in critical sectors of the economy capable of guiding growth, improving infrastructures, creating employment and increase the exchange roller.

He also observed that this initiative would offer investment opportunities called in dollars for local investors, deepen the financial market of Nigeria and strengthen foreign reserves while promoting the stability of the exchange rate.

However, Tinubu recognized that the program would increase the actions of the public debt of Nigeria and maintenance costs.

In the same way, President Tinubu searched for approval for the issue of federal bonds of the Nigerian government for a total of N757.98 billion in N757.98 billion to resolve the outstanding pension liabilities within the pension program that contributes (CPS) to December 2023.

Referring to the provisions of the Pension Reform Act (Pra) 2014, Tinubu observed that the government had fought to satisfy his pension obligations over the years due to the challenges of revenue.

He underlined that solving exceptional liabilities relieve the difficulties for pensioners, restore confidence in the pension system, increase morale between public employees and stimulate economic growth by increasing liquidity.

The president explained that the proposed bond issue had received the approval of the Federal Executive Council (FEC) on February 4, 2025 and highlighted both the implications of benefits and the costs, including the expected increase in public debt actions and debt service obligations.

While asking for the accelerated approval, President Tinubu urged the Chamber to take into consideration and approval of requests, citing the urgent need to stabilize the economy, fulfilling government obligations and improving the well -being of Nigerian citizens.