House of Representatives Approve Tinubu’s $2.35bn Loan Request Amid Debt Concerns
The House of Representatives has approved President Bola Tinubu’s request to secure a $2.35 billion loan to help finance the 2025 budget deficit, despite growing concerns over Nigeria’s rising debt profile.
The House also granted approval for the issuance of a $500 million sovereign sukuk on the international capital market to support infrastructure development and broaden the country’s funding sources.
The lawmakers reached the decision after reviewing the report of the Committee on Aids, Loans, and Debt Management...For more Details, Read full original.
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