₦airaland Forum

The Senate on Tuesday approved President Bola Tinubu’s 2025–2026 External Borrowing (Rolling) Plan, which includes requests to borrow $21.8 billion, €2.1 billion, and ¥15 billion, as well as a €65 million grant, to finance key projects and programmes across various sectors of the economy.

In addition, the Senate approved the issuance of a ₦757.98 billion Federal Government bond in the domestic market to offset outstanding pension liabilities under the Contributory Pension Scheme (CPS).

Also approved was the President’s request to raise to $2 billion in the domestic market through a Foreign Currency-Denominated Instrument Local Issuance Programme—a novel initiative backed by Presidential Executive Order No. 16 of 2023, which empowers the Debt Management Office (DMO) to access dollar liquidity within the country without exerting additional pressure on foreign reserves.

These approvals followed the recommendations of the Senate Committee on Local and Foreign Debts, chaired by Senator Aliyu Wamakko.

Despite the approvals, debate on the floor was tense. Some lawmakers expressed strong reservations about the sustainability of Nigeria’s mounting debt load.

Senator Abdul Ningi was among those who opposed the motion, warning: “Generations after us will continue to pay these loans. I’ve gone through the documents and cannot find a clear repayment plan.”

However, other senators, including Adetokunbo Abiru and Finance Committee Chairman Sani Musa, defended the proposals, describing the loan terms as flexible and growth-oriented.

Tinubu submitted the borrowing requests on May 27, emphasising the need to support critical projects in infrastructure, health, education, water supply, and other strategic areas.

The decision comes at a time when Nigeria’s total public debt stock has surpassed ₦121 trillion, with external debts exceeding $43 billion as of mid-2024. Debt servicing now consumes more than 90 per cent of federal revenue, prompting sharp criticism from economists and civil society groups.

“This is a country living on credit,” an opposition lawmaker told journalists. “People are suffering from inflation and joblessness while the government continues to dig deeper into debt.”

Still, supporters argue that the borrowing plan is different from past patterns.

“This isn’t reckless borrowing,” a committee member stated. “It’s a strategic investment to stimulate jobs, growth, and foreign exchange inflows.”

The approved loans and bond issuances are reportedly ring-fenced for high-impact, high-return projects across power, transport, the digital economy, and social sectors, subject to appropriation by the National Assembly.

A significant portion of the domestic bond—₦757.98 billion—is earmarked for the settlement of longstanding pension arrears. The move is expected to bring relief to thousands of retirees still awaiting full payment of their entitlements.

The DMO is expected to float the bond locally, reducing exposure to external risk. However, analysts caution that the government must ensure transparency and fiscal discipline in its execution.

This provides some short-term fiscal space, but if the investments don’t yield quick, measurable returns, we’re simply deepening the debt trap.

Tuesday’s approvals give the Tinubu administration the green light to broaden its fiscal reach. But the pressure is now on for results. For ordinary Nigerians facing inflation, currency instability, and subsidy removals, the biggest question remains: Will this borrowing bring real relief, or more hardship?

https://guardian.ng/news/senate-approves-tinubus-21-8b-loan-plan-%e2%82%a6758b-pension-bond/

A billion here, a billion there, and before you know it we're talking real money!

So who are they leaving to pay the debt after they must have died. 21 billion dollars borrowing just for a year excluding other borrowing that will still happen.

This is stupendous and maddening

..billion billions..billions.. billion vans..Bullion vans...

..how many billions can a Bullion van swallow..

..subsidy subsidy subsidy removal.."more funds for infrastructure" in the mud..

..just more loans made for Bullion vans..

He said he will stop borrowing After subsidy removal. But right now, he has borrowed X 10 of what late buhari borrowed in 8 years within 2 years,even when subsidy was still in place. I'm sure those APC Urchins defending Bulaba would have found out it is difficult to defend tinubu without looking stupid. I rest my case

TruthHurts1:
The Senate on Tuesday approved President Bola Tinubu’s 2025–2026 External Borrowing (Rolling) Plan, which includes requests to borrow $21.8 billion, €2.1 billion, and ¥15 billion, as well as a €65 million grant, to finance key projects and programmes across various sectors of the economy.

In addition, the Senate approved the issuance of a ₦757.98 billion Federal Government bond in the domestic market to offset outstanding pension liabilities under the Contributory Pension Scheme (CPS).

Also approved was the President’s request to raise to $2 billion in the domestic market through a Foreign Currency-Denominated Instrument Local Issuance Programme—a novel initiative backed by Presidential Executive Order No. 16 of 2023, which empowers the Debt Management Office (DMO) to access dollar liquidity within the country without exerting additional pressure on foreign reserves.

These approvals followed the recommendations of the Senate Committee on Local and Foreign Debts, chaired by Senator Aliyu Wamakko.

Despite the approvals, debate on the floor was tense. Some lawmakers expressed strong reservations about the sustainability of Nigeria’s mounting debt load.

Senator Abdul Ningi was among those who opposed the motion, warning: “Generations after us will continue to pay these loans. I’ve gone through the documents and cannot find a clear repayment plan.”

However, other senators, including Adetokunbo Abiru and Finance Committee Chairman Sani Musa, defended the proposals, describing the loan terms as flexible and growth-oriented.

Tinubu submitted the borrowing requests on May 27, emphasising the need to support critical projects in infrastructure, health, education, water supply, and other strategic areas.

The decision comes at a time when Nigeria’s total public debt stock has surpassed ₦121 trillion, with external debts exceeding $43 billion as of mid-2024. Debt servicing now consumes more than 90 per cent of federal revenue, prompting sharp criticism from economists and civil society groups.

“This is a country living on credit,” an opposition lawmaker told journalists. “People are suffering from inflation and joblessness while the government continues to dig deeper into debt.”

Still, supporters argue that the borrowing plan is different from past patterns.

“This isn’t reckless borrowing,” a committee member stated. “It’s a strategic investment to stimulate jobs, growth, and foreign exchange inflows.”

The approved loans and bond issuances are reportedly ring-fenced for high-impact, high-return projects across power, transport, the digital economy, and social sectors, subject to appropriation by the National Assembly.

A significant portion of the domestic bond—₦757.98 billion—is earmarked for the settlement of longstanding pension arrears. The move is expected to bring relief to thousands of retirees still awaiting full payment of their entitlements.

The DMO is expected to float the bond locally, reducing exposure to external risk. However, analysts caution that the government must ensure transparency and fiscal discipline in its execution.

This provides some short-term fiscal space, but if the investments don’t yield quick, measurable returns, we’re simply deepening the debt trap.

Tuesday’s approvals give the Tinubu administration the green light to broaden its fiscal reach. But the pressure is now on for results. For ordinary Nigerians facing inflation, currency instability, and subsidy removals, the biggest question remains: Will this borrowing bring real relief, or more hardship?

https://guardian.ng/news/senate-approves-tinubus-21-8b-loan-plan-%e2%82%a6758b-pension-bond/

Mynd44 Lalasticlala Nlfpmod

This government is the dumbest in the history of Nigeria

The master strategist and self-proclaimed financial engineer is borrowing 32 trillion naira to fund a 55 trillion naira budget. This does not even align with the MTEF. This is despite the widely celebrated fuel subsidy removal and IMF-inspired currency devaluation that has now plunged more Nigerians into abject poverty. Largest cabinet in the history of the country, but one can barely point at 5 working ministers. He has abandoned governance and commenced his reelection campaign from day one of his tenure. No ministerial oversight, no accountability from his appointees, no coordination. At this rate, anyone but Tinubu will do better even without a manifesto. Tinubu and his Lagos Areaboys are highly overrated.

The corruption in PDP 16 years administration de learn work for where APC government de.

Hmmmmmmmmmm 😮, very bad from the government.

$21b!!! This is crazy. I won't jump into conclusion yet as I do not fully understand the technical terms therein but borrowing $21b is crazy.

Borrowing that is not tied to any capital projects,at the end of the day, the fund will find its way in the pockets of some politicians.

God is watching.

Godswill Akpabio confirmed it once when he said let them complain while we're here chopping

koxyz:
Borrowing that is not tied to any capital projects,at the end of the day, the fund will find its way in the pockets of some politicians.

God is watching.

Please let me ask this simple question. Where is the money removed from subsidy

samomoli:
Please let me ask this simple question. Where is the money removed from subsidy

snake don swallow am

$21B for what exactly?

Please somebody should tell me the name of this movie? You mean the FG still has to borrow this much even after saving a lot from removing subsidy?

No concern for the future generations, just keep borrowing to loot and continue your luxurious lifestyle. At this rate they might start selling Nigerians just to maintain their lifestyle.

When Nigerians are ready they'll wake up and demand accountability. For now let's keep playing while standing on his mandate abi manhood

DonFreshmoney:
So who are they leaving to pay the debt after they must have died. 21 billion dollars borrowing just for a year excluding other borrowing that will still happen.

This is stupendous and maddening

Dangote will pay the loan for us and take over the country 😭

How to pay back is the Koko. They will borrow and majority of the money will go back to the lenders by proxy through mismanagement and money laundering and families enrichment leaving the citizens to struggle to survive. Another president or government will come and will give another excuses to borrow again. By that time, dollar to Naira will reach 5000. Very insensitive government and useless leaders.

TruthHurts1:
The Senate on Tuesday approved President Bola Tinubu’s 2025–2026 External Borrowing (Rolling) Plan, which includes requests to borrow $21.8 billion, €2.1 billion, and ¥15 billion, as well as a €65 million grant, to finance key projects and programmes across various sectors of the economy.

In addition, the Senate approved the issuance of a ₦757.98 billion Federal Government bond in the domestic market to offset outstanding pension liabilities under the Contributory Pension Scheme (CPS).

Also approved was the President’s request to raise to $2 billion in the domestic market through a Foreign Currency-Denominated Instrument Local Issuance Programme—a novel initiative backed by Presidential Executive Order No. 16 of 2023, which empowers the Debt Management Office (DMO) to access dollar liquidity within the country without exerting additional pressure on foreign reserves.

These approvals followed the recommendations of the Senate Committee on Local and Foreign Debts, chaired by Senator Aliyu Wamakko.

Despite the approvals, debate on the floor was tense. Some lawmakers expressed strong reservations about the sustainability of Nigeria’s mounting debt load.

Senator Abdul Ningi was among those who opposed the motion, warning: “Generations after us will continue to pay these loans. I’ve gone through the documents and cannot find a clear repayment plan.”

However, other senators, including Adetokunbo Abiru and Finance Committee Chairman Sani Musa, defended the proposals, describing the loan terms as flexible and growth-oriented.

Tinubu submitted the borrowing requests on May 27, emphasising the need to support critical projects in infrastructure, health, education, water supply, and other strategic areas.

The decision comes at a time when Nigeria’s total public debt stock has surpassed ₦121 trillion, with external debts exceeding $43 billion as of mid-2024. Debt servicing now consumes more than 90 per cent of federal revenue, prompting sharp criticism from economists and civil society groups.

“This is a country living on credit,” an opposition lawmaker told journalists. “People are suffering from inflation and joblessness while the government continues to dig deeper into debt.”

Still, supporters argue that the borrowing plan is different from past patterns.

“This isn’t reckless borrowing,” a committee member stated. “It’s a strategic investment to stimulate jobs, growth, and foreign exchange inflows.”

The approved loans and bond issuances are reportedly ring-fenced for high-impact, high-return projects across power, transport, the digital economy, and social sectors, subject to appropriation by the National Assembly.

A significant portion of the domestic bond—₦757.98 billion—is earmarked for the settlement of longstanding pension arrears. The move is expected to bring relief to thousands of retirees still awaiting full payment of their entitlements.

The DMO is expected to float the bond locally, reducing exposure to external risk. However, analysts caution that the government must ensure transparency and fiscal discipline in its execution.

This provides some short-term fiscal space, but if the investments don’t yield quick, measurable returns, we’re simply deepening the debt trap.

Tuesday’s approvals give the Tinubu administration the green light to broaden its fiscal reach. But the pressure is now on for results. For ordinary Nigerians facing inflation, currency instability, and subsidy removals, the biggest question remains: Will this borrowing bring real relief, or more hardship?

https://guardian.ng/news/senate-approves-tinubus-21-8b-loan-plan-%e2%82%a6758b-pension-bond/

Mynd44 Lalasticlala Nlfpmod

After all these I ask : what happened to the acclaimed subsidy removal they said was holding the country down? Can't it be used to pay pension?
I can beat my chest that this isn't for Nigerians but a strategic planning on rigging the next election.

OK oooooooooooooooooooooooooooooooooooooooo!!!!

Awesome!
Let the borrowing continue!
Super impressive.

timemanager zero8zero helinues ttalk tjra what happened to the "savings" from the "removal" of fuel subsidy?

Only a fool will hope anything good will come out of Tinubu government.

The $28.1 billions is for reelection and endorse ments. Buying off people is his only political strategy. His long term believe is ' everybody has a price'.

So, how much is helinues share



Will be very unfair if all tinubu's cronies get their cut and helinues is left out

Inna lillahi WA Inna ilaei rojiuna. To God we come from and to Him we return to.

Depending on who you are defending, it's okay to borrow money. Some people have told us how US is owing over $30 trillion.
On this platform, we've had people lamenting about GDP only to be shocked yesterday by opposition that GDP is not necessary, once there was news of perceived improvement.
You don't want to pay tax, you don't want the tax of people paying tax to increase, you don't want Nigeria to borrow, but you want roads, internet, electricity, schools, hospitals all standard like US and UK. Thoughtless and feckless jokes.

/



I support Tinubu. Buhari didn't tighten the grip enough.

Tinubu should also work on the exchange rate. Naira is overrated at N1550/$. Anything below N2000/$ is unacceptable

/

Borrow more jare.

I no get any more characters jare.

Make he borrow more

They keep collaboration with this plague to eat the carcass of this dying nation.

Tinubucrazy
Government of the borrowers for the borrowers and for their pockets

ybalogs:
Inna lillahi WA Inna ilaei rojiuna. To God we come from and to Him we return to.

Allah have mercy upon us.....



Its nooooooo longer funny

He dey gather 2027 election rigging money

Expect more borrowing