Close Menu
    Facebook X (Twitter) Instagram
    Trending
    • FG Blasts Ted Cruz Over ‘Absurd’ Christian Genocide Claim, CAN Insists Killings Are Real
    • Inuwa Yahaya At 64: Portrait Of A Teacher, Mentor And Moral Compass – By Ismaila Uba Misilli
    • Fresh Crisis In Dangote Refinery As Sacked Engineers Protest Redeployment To Sugar, Cement Plants
    • Nigeria Lost $10bn To North-East Conflict In 10 Years, UN Reveals
    • Interpol Arrests Nigerian Cybercrime Kingpin In Argentina Over Global Romance Scam Network
    • $400,000 WhatsApp Trail: Court To Rule On EFCC’s Electronic Evidence Against Emefiele Today
    • Presidency, World Bank Clash Over Claim That 139 Million Nigerians Are Poor
    • Mikel Obi Reveals Winning Formula For Super Eagles’ World Cup Qualification
    Facebook X (Twitter) Instagram
    NEWS POINT NIGERIANEWS POINT NIGERIA
    UBA 720X90
    • HOME
    • NEWS

      FG Blasts Ted Cruz Over ‘Absurd’ Christian Genocide Claim, CAN Insists Killings Are Real

      October 9, 2025

      Fresh Crisis In Dangote Refinery As Sacked Engineers Protest Redeployment To Sugar, Cement Plants

      October 9, 2025

      Nigeria Lost $10bn To North-East Conflict In 10 Years, UN Reveals

      October 9, 2025

      Interpol Arrests Nigerian Cybercrime Kingpin In Argentina Over Global Romance Scam Network

      October 9, 2025

      $400,000 WhatsApp Trail: Court To Rule On EFCC’s Electronic Evidence Against Emefiele Today

      October 9, 2025
    • COLUMN

      I, Too, Must Get American In-Laws, The Efficacy Of Prayers And Other Matters (2) – By Dr Hassan Gimba

      October 6, 2025

      Saving Democracy: The Urgency Of Electoral Reforms – By Dr Dakuku Peterside

      October 6, 2025

      Nigeria’s 2025 Science Prize: When Integrity Matters – By Kazeem Akintunde

      October 6, 2025

      Message From Cry, The Beloved Country – By Martins Oloja

      October 6, 2025

      The Arewa Awakening: How Northern Women Are Building, Thriving, Leading Change In Businesses – By Hafsat Salisu Kabara

      October 6, 2025
    • EDUCATION

      FG Names Prof. Adamu Acting Vice-Chancellor To Steer UniAbuja For Three Months

      August 9, 2025

      13 Countries Offering Free Or Low-Cost PhD Programmes For Non-Citizens

      January 25, 2025

      NECO: Abia, Imo Top Performing States In Two Years, Katsina, Zamfara Come Last

      October 3, 2024

      NBTE Accredits 17 Programmes At Federal Polytechnic Kabo

      August 20, 2024

      15 Most Expensive Universities In Nigeria

      May 19, 2024
    • INTERNATIONAL

      WHO Details Harrowing Scenes Of Gaza Horrific Trauma Patients

      October 9, 2025

      Former FBI Chief, James Comey To Make First US Court Appearance On Trump’s Charges

      October 9, 2025

      Hamas Seeks ‘Guarantees’ That Israel Will End Gaza War As Talks Continue

      October 8, 2025

      Briton, French, American Trio Wins Physics Nobel For Quantum Mechanical Tunnelling

      October 8, 2025

      Israel Kills 10 Palestinians In Gaza As Ceasefire Talks Begin In Egypt

      October 7, 2025
    • JUDICIARY

      FULL LIST: Judicial Council Recommends Appointment Of 11 Supreme Court Justices

      December 6, 2023

      Supreme Court: Judicial Council Screens 22 Nominees, Candidates Face DSS, Others

      November 29, 2023

      FULL LIST: Judicial Commission Nominates 22 Justices For Elevation To Supreme Court

      November 16, 2023

      Seven Key Issues Resolved By Seven Supreme Court Judges

      October 26, 2023

      FULL LIST: CJN To Swear In Falana’s Wife, 57 Others As SANs November 27

      October 12, 2023
    • POLITICS

      What Peter Obi May Lose If He Joins Coalition As VP Candidate

      May 25, 2025

      Atiku Moves To Unseat Wike’s Damagum As PDP Chairman, Backs Suswam As Replacement

      April 15, 2024

      Edo’s Senator Matthew Uroghide, Others Defect To APC

      April 13, 2024

      Finally, Wike Opens Up On Rift With Peter Odili

      April 2, 2024

      El-Rufa’i’s Debt Burden: APC Suspends Women Leader For Criticising Kaduna Gov

      March 31, 2024
    • SPORTS

      Mikel Obi Reveals Winning Formula For Super Eagles’ World Cup Qualification

      October 9, 2025

      Ronaldo Becomes Football’s First Billionaire, Eyes 2026 World Cup

      October 9, 2025

      Osimhen, Lookman, 15 Others Arrive South Africa For Crucial World Cup Qualifier

      October 8, 2025

      ‘Why I Hated Playing For England…’, Gerrard Slams Golden Generation

      October 8, 2025

      FIFA U-20 World Cup: Nigeria Draw Colombia 1-1, Advance To Face Argentina Again After 20 Years

      October 7, 2025
    • MORE
      • AFRICA
      • ANALYSIS
      • BUSINESS
      • ENTERTAINMENT
      • FEATURED
      • LENS SPEAK
      • INFO – TECH
      • INTERVIEW
      • NIGERIA DECIDES
      • OPINION
      • Personality Profile
      • Picture of the month
      • Science
      • Special Project
      • Videos
      • Weekend Sports
    NEWS POINT NIGERIANEWS POINT NIGERIA
    UBA 720X90
    Home - Tinubu Seeks National Assembly’s Approval To Borrow $2.35bn

    Tinubu Seeks National Assembly’s Approval To Borrow $2.35bn

    By Hamza RufaiOctober 8, 2025
    Tinubu NASS 3

    PRESIDENT Bola Tinubu has sought approval from the House of Representatives to borrow $2.35 billion in external capital to finance part of the 2025 budget deficit and refinance Nigeria’s maturing Eurobonds.

    Tinubu’s request was contained in a letter addressed to the Speaker of the House, Tajudeen Abbas sighted by News Point Nigeria, and read on the floor of the green chamber on Tuesday.

    The President also wants the parliament to approve his plan to issue a $500 million debut sovereign sukuk in the International Capital Market (ICM) to fund infrastructure projects and diversify Nigeria’s sources of financing.

    UBA

    According to the letter, the external borrowing is backed by provisions of Sections 21(1) and 27(1) of the Debt Management Office (Establishment) Act, 2003, which require legislative approval for new loans and refinancing arrangements.

    The President said the borrowing plan includes $1.23 billion (N1.84 trillion) provided for in the 2025 Appropriation Act to part-finance the budget deficit, and another $1.12 billion to refinance a eurobond maturing on November 21.

    Independence Day

    “The Federal Government has recorded considerable success in the issues of Sukuk in the domestic capital market for the development of critical infrastructure projects across the country. Between September 2017 and May 2025, the DMO has raised N1.39 trillion through Sukuk in the domestic capital market to fund critical road infrastructure projects,” the letter read.

    “There is a need to pull resources from external sources to complement domestic issues to help bridge infrastructure funding gaps.

    Happy Birthday

    “And two, it is imperative to open new sources of funding for the federal government of Nigeria and thereby diversify the investor base as well as deepen the federal government security markets.”

    According to the President, the funds would be raised through one or a combination of instruments such as Eurobonds, loan syndications, or bridge financing facilities, depending on prevailing market conditions.

    Nigerian TAX Reform - Federal Goverment

    He explained that the Federal Government expects the pricing of the new Eurobonds to align with current yields on Nigeria’s existing bonds in the international market, ranging between 6.8 percent and 9.3 percent, depending on maturity.

    On the proposed $500 million sovereign sukuk, Tinubu said the move would help diversify Nigeria’s investor base and deepen the government securities market.

    He added that proceeds will support the development of critical infrastructure projects across the country.

    National Orientation Agency Page UP
    National Orientation Agency - Down

    Borrowings National Assembly Tinubu
    Share. Facebook Twitter WhatsApp LinkedIn Telegram Email

    Related Posts

    FG Blasts Ted Cruz Over ‘Absurd’ Christian Genocide Claim, CAN Insists Killings Are Real

    October 9, 2025

    Fresh Crisis In Dangote Refinery As Sacked Engineers Protest Redeployment To Sugar, Cement Plants

    October 9, 2025

    Nigeria Lost $10bn To North-East Conflict In 10 Years, UN Reveals

    October 9, 2025

    Interpol Arrests Nigerian Cybercrime Kingpin In Argentina Over Global Romance Scam Network

    October 9, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    Latest Posts

    FG Blasts Ted Cruz Over ‘Absurd’ Christian Genocide Claim, CAN Insists Killings Are Real

    October 9, 2025

    Inuwa Yahaya At 64: Portrait Of A Teacher, Mentor And Moral Compass – By Ismaila Uba Misilli

    October 9, 2025

    Fresh Crisis In Dangote Refinery As Sacked Engineers Protest Redeployment To Sugar, Cement Plants

    October 9, 2025

    Nigeria Lost $10bn To North-East Conflict In 10 Years, UN Reveals

    October 9, 2025

    Interpol Arrests Nigerian Cybercrime Kingpin In Argentina Over Global Romance Scam Network

    October 9, 2025
    Advertisement
    WIDGET ADS
    News Point NG
    © 2025 NEWS POINT NIGERIA Developed by ENGRMKS & CO.
    • Home
    • About us
    • Disclaimer
    • Our Advert Rates
    • Privacy Policy
    • Terms of Use

    Type above and press Enter to search. Press Esc to cancel.

    Join Us On WhatsApp