National Assembly To Approve $2.2b Loan For Tinubu

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The additional N1.77 trillion loan sought by President Bola Tinubu to finance the 2024 budget will be reviewed today by the National Assembly for consideration and approval.

President Tinubu had on Tuesday sent letters to the upper and lower chambers explaining the necessity of the loan, which is embedded in the 2024 Appropriation Act and is crucial for financing part of the N9.7 trillion deficit in the N28.7 trillion national budget.

The Senate President, Godswill Akpabio, has told the Committee on Local and Foreign Debts to review the proposal and report back within 24 hours during the plenary yesterday, with expected approval today.

Similarly, the House of Representatives is anticipated to follow suit, paving the way for the much-needed funds to support the 2024 fiscal year’s implementation.