Tinubu Seeks National Assembly Approval for $6bn External Loans

President Bola Ahmed Tinubu has requested the approval of the National Assembly to secure external loans totaling $6 billion.

The request was conveyed in two separate letters addressed to Godswill Akpabio and read during plenary on Tuesday.

In the first letter, the president sought approval to obtain a $5 billion loan from First Abu Dhabi Bank.

In the second, Tinubu requested approval for a $1 billion loan facility from Citibank in London, under the UK export finance arrangement.