The Nigerian Senate has officially approved the Federal Government’s 2025–2026 External Borrowing Rolling Plan, authorizing the administration of President Bola Ahmed Tinubu to access over $23 billion in new funding to support major national projects and economic programmes.
The approved borrowing package includes:
$21.8 billion (USD)
€2.1 billion (EUR)
¥15 billion (Chinese Yuan)
A grant of €65 million (EUR)
According to the Senate, the loans and grants will be used to finance critical infrastructure, development initiatives, and reform-focused projects across various sectors, including energy, transportation, education, and healthcare.
In a related move, the Senate also gave the green light for the Federal Government to raise bonds in the domestic debt market to settle outstanding pension liabilities. A total of ₦757.98 billion will be sourced through this initiative to clear backlogs and improve the welfare of retired government workers.
Additionally, the lawmakers approved a separate request to raise up to $2 billion in the domestic debt market to finance capital-intensive projects aimed at boosting national productivity and job creation.
Senate President Godswill Akpabio emphasized that the borrowings will be closely monitored to ensure transparency, efficiency, and alignment with Nigeria’s long-term economic goals.
