President Bola Tinubu has formally requested the House of Representatives’ approval for a new borrowing plan totaling over $21.5 billion alongside a domestic bond issuance of N757.9 billion aimed at clearing outstanding pension debts
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In a detailed submission to the Green Chamber, the proposed 2025–2026 borrowing strategy targets multiple sectors including infrastructure, agriculture, health, education, water supply, security, job creation, and financial reforms. The external borrowing component seeks $21.54 billion, €2.19 billion, 15 billion Japanese Yen, and a €65 million grant. President Tinubu stressed that this borrowing is crucial to address Nigeria’s infrastructure gap and financial challenges, especially following the removal of the fuel subsidy.
The President assured that these funds would be directed toward vital infrastructure projects, employment opportunities, skills development, entrepreneurship, and poverty alleviation. He further underscored the expected positive impacts on Nigerians’ living standards and food security.
Separately, President Tinubu has asked for approval to issue Federal Government bonds worth N757.98 billion to settle pension arrears. Citing the Pension Reform Act of 2014, he explained that persistent revenue shortfalls have made it difficult for the government to meet its pension obligations, causing hardship for retirees.
He highlighted that addressing these pension liabilities would enhance retirees’ welfare, strengthen trust in the pension system, and provide a liquidity boost to the economy.
The President urged lawmakers to approve the requests promptly, pledging his administration’s commitment to transparency and accountability. The matter has been forwarded to the House Committees on National Planning and Economic Development and on Pensions for further review.
