The Nigerian Senate has approved President Bola Tinubu’s ₦1.15 trillion loan request from the domestic debt market to fund the 2025 budget. The Tinubu loan aims to cover the current budget deficit and ensure continuous implementation of critical national projects.
The approval followed the adoption of a report by Senator Manu Haruna (APC–Taraba), Vice Chairman of the Senate Committee on Local and Foreign Debts. After deliberation, lawmakers agreed that the borrowing was necessary to maintain economic stability and sustain government programs.
Budget Deficit and Loan Breakdown
Nigeria’s 2025 budget stands at ₦59.99 trillion—an increase of ₦5.25 trillion from the earlier ₦54.74 trillion proposal. As a result, the deficit rose to ₦14.10 trillion. To close this gap, the Tinubu loan of ₦1.15 trillion will be sourced from the domestic debt market.
The committee emphasized that the borrowing will help finance vital capital projects and strengthen fiscal performance across ministries and agencies. Moreover, it will ensure that infrastructure funding remains uninterrupted throughout the fiscal year.
Lawmakers Demand Oversight and Transparency
During plenary, Senator Abdul Ningi (APC–Bauchi) urged the Senate Committee on Appropriation to work closely with the Debt Management Office (DMO) and Budget Office. According to him, effective oversight and transparency are crucial for maintaining public confidence.
Similarly, Senator Adeola Solomon (APC–Ogun) praised the committee’s detailed report. He noted that timely access to the Tinubu loan funds would support project execution and stimulate growth across key economic sectors.
Conclusion: Tinubu Loan and Fiscal Stability
In conclusion, the Senate’s approval of the Tinubu loan reflects ongoing efforts to balance Nigeria’s finances and fund essential infrastructure. Lawmakers have insisted that proper monitoring, quarterly reports, and clear repayment plans must guide the process to ensure accountability and responsible debt management.
