Senate approves Tinubu’s N1.15trn domestic loan for 2025 deficit
The Senate has approved President Bola Tinubu’s request to borrow an additional *₦1.15 trillion* from the domestic debt market to finance the 2025 budget deficit.The approval came on Wednesday after the presentation and deliberation of the *Report of the Committee on Local and Foreign Debts Borrowing Programme to Fund the 2025 Budget Deficit*, chaired by Senator Aliyu Wamako (APC, Sokoto North). The report was formally presented by the committee’s Vice‑Chairman, Senator Haruna Manu (PDP, Taraba Central), who said: _“That the Senate do Receive and Consider the Report of the Committee on Local and Foreign Debts for the approval of the Borrowing Programme to Fund the 2025 Budget Deficit.”_
President Tinubu’s request was first read during the Senate plenary on November 4 by Senate President Godswill Akpabio. The accompanying letter indicated the funds are meant to bridge the financing gap and ensure full implementation of government programmes and projects in the 2025 fiscal plan. After the reading, Akpabio referred the request to Senator Aliyu Wamako and the Senate Committee on Local and Foreign Debt, instructing them to report back within a week. The Senate’s decision on Wednesday concluded the legislative process.

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