The National Assembly has approved President Bola Ahmed Tinubu’s request to obtain a ₦1.15 trillion domestic loan to finance the unfunded portion of the 2025 budget deficit, raising renewed concerns about Nigeria’s growing debt profile and reliance on borrowing.
Lawmakers granted the approval after adopting the report of the Senate Committee on Local and Foreign Debt during Wednesday’s plenary session.
According to the committee’s report, the 2025 Appropriation Act now stands at ₦59.99 trillion, an increase of ₦5.25 trillion from the Executive’s initial proposal of ₦54.74 trillion. This adjustment expanded the total deficit to ₦14.10 trillion.
While ₦12.95 trillion had previously been approved for borrowing, a balance of ₦1.15 trillion (₦1,147,462,863,321) remained unfunded. The newly approved loan is intended to close this fiscal gap and support uninterrupted implementation of the 2025 national budget.
However, this development brings Nigeria’s fiscal strategy into sharper focus:
As Nigeria enters 2026, what practical steps should the Federal Government prioritise to reduce its reliance on borrowing while still ensuring stable economic growth?
#NigeriaEconomy #Budget2025 #AfricanMediaCommConsulting
Leave a Reply