Tinubu Seeks Reps’ Approval For $2.347bn External Borrowing, $500m Sovereign Sukuk

President Bola Tinubu has sent a request to the House of Representatives, seeking approval to access external capital of $2.347billion. This comprised of new external borrowing of N1.843 trillion, at the budget exchange rate of $1.00/N1,500.00) in the 2025 Appropriation Act for the part-financing of the budget deficit and refinancing of $1.118billion Eurobonds. This is

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