President Tinubu has submitted a request to the Senate for authorization to borrow 21.5 billion dollars, EUR 2.1 billion and 15 billion yen. It also seeks a grant of 65 million euros. President said in a letter: “In the light of the removal of the fuel subsidy and its... impact on the national economy, approval is called for the borrowing plan, which amounts to USD 21,543,647,912, and EUR 2,193,856,324.54. And in Japanese Yen, 15 billion Yen and grant of 65 million, respectively. “This initiative aims to generate employment, promote skill acquisition, foster entrepreneurship, reduce poverty, and enhance food security, as well as to improve the livelihoods of Nigerian. Majority of these projects and programs will be implemented across all 36 states and the Federal Capital Territory. “In light of the significant infrastructure deficit in the country and the power of financial resources needed to address this gap amid declining domestic demand, it has become essential to pursue prudent economic borrowing to close the financial shortfall. “These funds will primarily be directed towards critical infrastructural projects, including railways, healthcare among others. Given the market nature of these needs and the importance of stabilizing the economy, it is crucial to seek the consideration and approval of the House of Representatives for the 2025-2026 External Borrowing Plan. “This will enable the government to fulfill its obligations to the Nigerian people through timely disbursement and effective project implementation.”show more

Lol 😂 😂 😂 The only difference between Tinubu and Hushpuppi is their modus operandi.

IMF loan paid. Now he can collect bigger loans. The loan is good for the APC economy. Again, he's said fuel subsidy is eating our future generations. This br@inless people and their supporters. When Tinubu is done with Nigeria. Maybe we will go our separate ways then.

Where does the fuel sibsidy removal money go?. Where?. Now you want to borrow to finance infrastructure 😂😂😂😂😂

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$21.5 Billion????? Was fuel subsidy and electricity subsidy removal not meant to free up enough funds for the government to be used for these projects??? This is not a good sign. The amount involved over a 2 year period is enormous. I would like to see exactly the projects involved.

This money is for election purposes

After all he paid off IMF loan! 😂😂😂😂😂😂

@grok List all the monies borrowed by President Bola Tinubu government since coming to office in 2023 and the institution they were borrowed from.

Since May 2023, President Tinubu's government has borrowed approximately $7.2 billion in external loans, all from the World Bank. These include: $750 million (June 2023) for power sector recovery, $500 million (June 2023) for women empowerment, $800 million (July 2023) for social safety nets, $700 million (September 2023) for adolescent girls' education, $2.25 billion (June 2024) for economic stabilization, $1.57 billion (September 2024) for health, education, and power, and $632 million (March 2025) for nutrition and education. No confirmed loans from other institutions like the IMF or China. A $21.5 billion request (May 2025) is pending.

In a time when bold steps are necessary to reposition Nigeria’s economy and infrastructure, President Tinubu’s borrowing request is a strategic move toward growth and stability. With clear intentions to channel these funds into job creation, entrepreneurship, food security, healthcare, and nationwide infrastructure, this borrowing plan reflects a proactive approach to bridging our development gaps. Yes, borrowing must be done responsibly—but when tied directly to projects that uplift millions and strengthen our economy in the long term, it becomes an investment in our future. What matters now is transparency, accountability, and speed in implementation—three pillars this administration is committed to upholding.

I thought the removal of the petrol subsidy was supposed to save the country money.