President Bola Ahmed Tinubu has formally written to the House of Representatives, requesting approval for a fresh $2.35 billion external loan and an additional $500 million Sovereign Sukuk.
The request is part of the administration’s ongoing efforts to fund key infrastructure projects and strengthen the nation’s fiscal stability amid global economic challenges.
The new borrowing plan, once approved, will complement the government’s ongoing fiscal reforms and developmental agenda under the Renewed Hope Initiative.
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