• 27 May, 2025
• FAITH MIMDOO KEGH
• No comment

National Assembly Receives Tinubu’s Request for $21.5bn Loan and ₦758bn Pension Bond.

President Bola Tinubu has formally requested the National Assembly’s approval to secure a \$21.5 billion external loan and issue a ₦758 billion domestic bond aimed at clearing outstanding pension obligations.

The funds are intended to support critical national projects, including improvements in infrastructure, health care, education, and water supply. This request was presented during a Senate plenary session and has been forwarded to the Senate Committee on Local and Foreign Debts for review. The committee is expected to deliver its report within two weeks.

In a separate communication, the President also requested approval for the issuance of domestic bonds under the Contributory Pension Scheme to address pension arrears, with the bond issuance totaling ₦757.9 billion.

Additionally, Tinubu is seeking Senate consent to raise \$2 billion from the domestic market to fund key economic sectors.

The President also sent a revised external borrowing plan for 2025–2026 to the House of Representatives, which includes borrowing \$21.5 billion, €2.2 billion, ¥15 billion in Japanese yen, and receiving a €65 billion grant. These funds are meant to tackle infrastructure gaps and boost employment.

These financial requests have been sent to the appropriate legislative committees for further scrutiny.

FAITH MIMDOO KEGH

Manager – Oversees the daily operations, editorial planning, and strategic direction of the platform. A graduate with a solid academic foundation in media and communication, Faith brings a wealth of experience to the TokinPoint.

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