₦airaland Forum

ABUJA- PRESIDENT Bola Tinubu has written to the Senate, seeking the consideration and subsequent approval of a new external borrowing plan to the tune of over $21.5 billion.


The President is also seeking the approval of a domestic bond issuance of ₦757.9 billion to settle outstanding pension liabilities.


In a letter to the Senate and read yesterday during plenary by the President of the Senate, Senator Godswill, President Tinubu highlighted the strategic significance of the 2025–2026 borrowing plan, noting that it spans key sectors of the economy.


President Tinubu said, “The 2025–2026 borrowing plan covers all sectors with specific emphasis on infrastructure, agriculture, health, education, water supply, growth, security and employment generation, as well as financial and monetary reforms, among others.”

The President explained that the total facility sought under the external borrowing plan includes USD 21,543,647,912, EUR 2,193,856,324.54, and 15 billion Japanese Yen, in addition to a grant of 65 million EUR.

President Tinubu, who noted that the proposed borrowing was crucial in light of the removal of fuel subsidy and its economic implications, said: “In light of the significant infrastructure deficit in the country and the paucity 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.”


Tinubu assured lawmakers that the proposed funds would be channelled into critical infrastructure projects, especially in the areas of railways, healthcare and nationwide development programmes across all 36 states and the Federal Capital Territory.

“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 Nigerians,” he emphasised.

In another letter, President Tinubu is seeking the Senate’s approval for the issuance of Federal Government bonds in the domestic market to settle accrued pension liabilities under the Contributory Pension Scheme (CPS) amounting to ₦757,983,246,572.


Tinubu, who cited the Pension Reform Act 2014, noted that the government had been unable to comply with some statutory pension obligations due to revenue challenges, leading to a buildup of arrears and increasing hardship for retirees.

He said, “The Senate is invited to note that the federal government has not been compliant with the implementation of the above provisions of the PRA 2014 over the years due to revenue challenges leading to accumulation of pension arrears with the attendant ICU retirees.”

The President, who noted that the proposal to issue bonds for the settlement of the liabilities had received approval from the Federal Executive Council in its meeting of February 4, 2025, said that settling the pension arrears will improve retirees’ welfare, boost confidence in the pension system, and inject liquidity into the economy.

The letter further read, “It will enable the Federal Government of Nigeria to meet obligations under the CPS and restore confidence in the pension industry. “It will also ensure positive welfare even for the retirees, as this will enable them to meet their basic needs… improve health and avoid untimely death.”

President Tinubu, who urged the Senate to give timely approval, assured of his administration’s commitment to transparency and accountability, said: “While I look forward to the progression and timely approval of the House of Representatives, please accept, Your Honourable Speaker, the assurances of my high regards.”


The President of the Senate then referred the requests to the Senate Committee on Local Debts for further legislative action and report at plenary in two weeks.

https://www.vanguardngr.com/2025/05/tinubu-writes-senate-for-approval-of-21-5bn-loan-%e2%82%a6757-9bn-pension-bond/

TallNigerian:
Cho cho cho.
If they born you and your cohorts well, make una no pay the ground rent before 2 weeks elapses, you go know whether we get two presidents or not. Lawless goats.

When I come across comments like this, I am filled with regret.

Will Wike remain the FCT Minister forever? Before him, we had El-Rufai.

After Wike, there will be someone else.

Therefore, this boastful rhetoric and display of brigandage are pointless and achieve nothing

Money na water

APCNig:
Go and arrest Tompolo yourself. He is the President’s friend, and you can do nothing about it

Of course, the president’s friend is above the law. Even when he breaks it, the president’s immunity shields him from prosecution.

helinues:
The same Peter Obi who also claimed he can fix all the decades old rot in Nigeria within 2 years.

That man is a notorious and serial liar

If an individual like Tinubu, lacking a clear blueprint for national development, could bring Nigeria to its current state of disrepair within two years, then it is entirely reasonable to believe that someone else, with a credible and well-articulated plan, can achieve meaningful and measurable progress within the same time frame.

Richtaiwo:
This one will fly in from Dubai and start talking like those illiterates supporting their fellow illiterate.

So Atiku is now Nigerians?

What's even the latest about his Cameroun nationality?

It’s honestly baffling that anyone supporting Tinubu, the same Tinubu whose origins are still unclear, with no verified account of where he's truly from or even confirmation of his nationality, would question Atiku’s Nigerian identity. Let’s not forget, this is the same Tinubu whose first 20 years of life remain a complete mystery.

Money na water

It’s an undisputed fact

tabaralph:
Weep for yourself and your generation, as for me and my entire household we are sorted for life ireooo

Follow sort me out na

Thunderfayamods:
What did you comment about?

Kindly run along

obembet:
Nothing like Manhood... It sweet die..


I tasted it and I have not regret till now

Wonderful

Thunderfayamods:
That has nothing to do with ethnicity, that is a fact!

What is the fact?

Creamypie:
Police i.g isn't different from them

You don't mean it

Omenlon:
oga, go find work and stop disturbing us with wailing.

You wey dey work, na here be your work place

tabaralph:
This really shows how gullible and ignorant you are politically, if you really know how politics works you won’t think like this but trust me shuaibu is a future edo state governor

So, this is politics.

Securing an appointment to enrich oneself is what politics is all about, not how to improve the lives of the people.

I weep for you because you may never have witnessed what good governance and politics aimed at benefiting the people truly look like or entail.

ALTERNATEID:

Some of you don’t know anything and it’s very obvious. We have some federal agencies with far bigger budgets than a lot of states. Their heads control bigger resources than some governors. So, what’s in an ordinary slate tyre deputy governor?

A lot of state but not Edo state

Tenisam:
Pass me your blunt sir

It ain't about passing you my blunt, I'm talking facts, and you know it

ALTERNATEID:
DG of a Federal Agency is far bigger than any Deputy Governor in Nigeria.

Na wa for you o

bcomputer101:
VDM is more popular than Atiku

The coalition from just give us Obi and VDM

VDM has made greater contributions to humanity than Tinubu

TheChameleon:
Have they ever offered your own father Class Janitor ?

If Shuaibu is unsatisfied, he wouldn't have accepted it. Stop taking panadol for his headache.

I’m not taking it personally, nor am I taking Panadol for his headache. If you read through my comments, you’ll see that I even congratulated him.

Just wondering if all this was worth the fight he had with Obaseki, the PDP, and others, including his now dead and buried ambition to become the governor of Edo State

lapintoz:
From the result on ground, this druggie is 100 times better than the Pandora gbajue failure.

550,000 Nigerian students who have benefited from students loan will testify to this. N55 BILLION spent so far. A drop in the ocean compared to what Emiefele stole or the Accountant General that stole over N400 billion under Bubu....one man stealing the destiny of a country.

But wicked bitter leaf ass lickers will never see this. 😄😄😄😄

If inconsistency and incoherence were a person, it would be you.

Good that you acknowledged he is a druggie.

In one breath, you claim he's better than Gbajue; in the next, you're comparing the druggie with Emefiele over who stole more of the commonwealth. Both are thieves

Let me help you: the druggie has been stealing the commonwealth of Lagosians through a blueprint conduit pipe that channels the Lagos State Treasury directly into his personal pocket, for over two decades and counting

The student loan you're referring to is not his personal money; it's exactly what it is, a loan that must be repaid. You can't compare that to Peter Obi’s philanthropic gestures, where he visits schools and IDPs, making personal donations and meeting people at their point of need. That’s the real difference.

DomPerignon:
Talking trash as usual.

Who even told him that he would get the ticket under Abure?

Peter Obi is not responsible for your frustrations and anger

RichBoy247:
For how long can you maintain these cries?

Crying over what