President Bola Ahmed Tinubu has requested the approval of a fresh ₦1.15 trillion loan from the domestic market to help finance the deficit in Nigeria’s 2025 national budget.
In a letter addressed to the National Assembly, the president explained that the loan is necessary to bridge the funding gap and ensure the smooth implementation of key government programmes and projects outlined in the fiscal plan.
According to the letter, the borrowing will be sourced locally through the issuance of government securities and bonds. The president noted that this approach aligns with the administration’s fiscal strategy to reduce external borrowing while leveraging the domestic capital market.
“The proposed borrowing is essential to sustain ongoing economic reforms and priority infrastructure projects,” the letter stated, emphasizing the government’s commitment to prudent financial management.
Lawmakers are expected to deliberate on the request in the coming days as part of broader discussions on the 2025 appropriation bill, which targets economic stability, job creation, and improved public services.
Nigeria’s budget deficit has remained a key concern amid rising debt levels and efforts to boost revenue generation through tax reforms and diversification of the economy.
