Abuja — President Bola Ahmed Tinubu has requested the approval of the National Assembly for a fresh ₦1.15 trillion borrowing from the domestic debt market to help finance the deficit in the 2025 national budget.
The President’s request was contained in a letter addressed to the Senate and read on the floor during plenary on Tuesday.
According to the letter, the proposed borrowing is aimed at bridging the funding gap in the 2025 fiscal plan and ensuring the full implementation of key government programmes and projects.
Tinubu explained that the domestic loan would complement existing financing arrangements and help maintain fiscal stability while advancing the administration’s developmental priorities.
The 2025 budget, currently before the National Assembly, outlines the government’s expenditure framework and funding strategies for the fiscal year, with a significant portion expected to be financed through a mix of domestic and external borrowings.
The fresh ₦1.15 trillion request adds to the administration’s ongoing efforts to mobilize funds for infrastructure development, social investments, and economic growth initiatives across the country.