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The Senate has granted approval for President Bola Tinubu to secure $6 billion in external loans, clearing the way for fresh borrowing to address fiscal gaps and fund rehabilitation work at Nigeria’s busiest seaports. The approval followed the consideration of a report by the Senate Committee on Local and Foreign Debts, chaired by Senator…
ABUJA — The Nigerian Senate officially confirmed yesterday that the nation must embrace fresh borrowings to sustain the 2026 fiscal cycle. Senator Solomon Adeola, Chairman of the Senate Committee on Appropriations, announced this during a public hearing in the capital. The proposed budget estimates total expenditure at N58.47 trillion, significantly outpacing the projected revenue…
