President Tinubu has written to the National Assembly, seeking approval of a fresh N1.767 trillion, the equivalent of $2.209 billion as a new external borrowing plan in the 2024 appropriation act.
The loan will be used to part-finance the deficit of N9.7tn for the 2024 budget.
The president’s request was read by the speaker during plenary on Tuesday.
The president has also forwarded the MTEF/ FSP 2025- 2027 to parliament and the National Social Investment Programme establishment amendment bill, to make the social register the primary tool for the implementation of the federal government’s social welfare programmes.