President Bola Tinubu has written to the National Assembly to seek the approval of a fresh $2.2bn as a new external borrowing plan in the 2024 Appropriation Act.
The President’s request was contained in a letter read by the Speaker of the House of Representatives, Tajudeen Abbas, during plenary on Tuesday.
If approved, the loan will be used to part-finance the budget deficit of N9.7tn for the 2024 budget.
The President has also forwarded the 2025- 2027 Medium-Term Expenditure Framework and the Fiscal Strategy Paper to the National Assembly for consideration and approval.
Tinubu also sent 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.
