The Nigerian Senate is set to approve President Bola Tinubu's fresh request for a $2.2 billion loan.
According to the President, this loan request is part of Nigeria’s budgetary financing plan aimed at addressing a portion of the N9.17 trillion fiscal deficits in the 2024 budget.
While some experts caution against incurring more debt, President Tinubu asserts that these funds are necessary for the ongoing implementation of projects and programs outlined in the 2024 appropriation act, which are intended to stabilize the economy.
He highlighted that the key areas where the funds will be utilized include priority sectors such as power, transportation, agriculture, defense, and security.

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