The Digest:
President Bola Tinubu has requested the National Assembly's approval to borrow N1.15 trillion from the domestic debt market, a move aimed at financing the deficit in the 2025 budget and ensuring the full implementation of its projects.
Key Points:
- The request was conveyed in a letter read during Tuesday's Senate plenary.
- The loan is intended to bridge the 2025 budget's funding gap.
- Its goal is to ensure full implementation of government programs and projects.
- Senate President Godswill Akpabio has referred the request to a special committee.
- The Senate Committee on Local and Foreign Debt will handle the scrutiny.
- The committee has one week to report back for further legislative action.
- This signifies a major fiscal move to support the year's fiscal plan.
