Tinubu Requests $2.35B Loan, $500M Sovereign Sukuk to Fund 2025 Budget
[NigerianEye - Nigeria] - 7/10/2025
President Bola Tinubu has submitted a request to the House of Representatives for approval of a $2.347 billion external loan and a $500 million sovereign Sukuk to address Nigeria’s 2025 budget deficit and refinance a $1.118 billion Eurobond maturing in November 2025. The request, read by Speaker Tajudeen Abbas during Tuesday’s plenary, aligns with the Debt Management Office (DMO) Act and aims to bolster fiscal stability.The $2.35 billion loan, comprising $1.229 billion in new borrowing, will be sourced through Eurobonds, syndicated loans, or international institutions, depending on market (…)
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