Nigeria, Oct. 27 -- President Bola Tinubu has asked the Senate to approve a fresh external borrowing plan worth $20.51bn and 1.45bn to fund government projects and address financing gaps in the 2026 and 2027 fiscal years.

The request was conveyed in a letter addressed to Senate President Godswill Akpabio and read during plenary on Tuesday, October 27, 2026.

Tinubu said the proposed borrowing would enable the Federal Government to meet its obligations to Nigerians and finance critical sectors, including infrastructure, power, transportation, healthcare, security, agriculture, water supply and education.

The funds are also expected to support food security and employment generation across the 36 states and the Federal Capital Territory....