Tinubu writes Senate for approval to borrow fresh $6bn

News Tinubu writes Senate for approval to borrow fresh $6bn Published on March 31, 2026 By Ifreke Inyang googletag.cmd.push(function() { googletag.display('div-gpt-ad-1500386953281-8'); }); President Bola Tinubu has sent a letter to the Nigerian Senate seeking approval to borrow $5 billion. The letter was read out to the lawmakers by Senator Godswill Akpabio during plenary on Tuesday. The loan, which will be obtained from Abu Dhabi Bank, is to be used for budget deficit and debt financing, among others. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1524595905268-5'); }); In another letter to the Senate, Tinubu is seeking approval to borrow $1 billion UK/EF loan facility from London Citi Bank for the rehabilitation of port projects, including Lagos Port complex and Tin Can port. Akpabio referred the letters to the Senator Aliyu Wammakko-led Senate Committee on Local and Foreign Debts to carry out legislative actions on the request and report back immediately. Don't Miss BREAKING: ICPC returns El-Rufai to custody You may like Plateau killings: Perpetrators won’t go unpunished – Tinubu vows APC Governors, Ministers don’t have Tinubu at heart — Alwan 2027: Why Tinubu, APC shivering over ADC’s momentum — Atiku Plateau killings: ‘You lack effective leadership’ – Adeyanju to Tinubu Nigeria’s power sector crisis: Pressure mounts on Tinubu to sack Adelabu Tinubu appoints new CAC chairman, nominates seven NPC commissioners

SOURCE: https://dailypost.ng/2026/03/31/tinubu-writes-senate-for-approval-to-borrow-fresh-6bn/