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President Tinubu Seeks Approval for $2.3 Billion Loan & $500 Million Sukuk
President Bola Ahmed Tinubu has asked the National Assembly to approve $2.3 billion in new external borrowing and the issuance of a $500 million sovereign sukuk.
According to reports, the move is part of Nigeria’s plan to refinance existing debts and support the 2025 national budget. The new borrowing is expected to help manage maturing Eurobonds and provide stability to the country’s fiscal operations.
The sovereign sukuk, which aligns with Islamic finance principles, would mark Nigeria’s debut issuance on the international market — a strategic step toward diversifying its borrowing options and attracting new investors.
Analysts say the plan could boost liquidity and provide short-term relief, but also caution that debt sustainability and currency risks remain major challenges.
If approved, this borrowing will add to the government’s broader effort to fund reforms, strengthen the economy, and improve infrastructure.
Read more https://flowisetech.com/blogs/892/President-Tinubu-Seeks-Parliamentary-Approval-for-2-3B-New-Borrowing
#Tinubu #NigeriaEconomy #Sukuk #NigeriaBudget #DebtRefinancing #NigeriaFinance #BolaTinubu #NationalAssembly #NigeriaNews #BudgetSupport #ExternalBorrowing #FlowiseTechNews
President Bola Ahmed Tinubu has asked the National Assembly to approve $2.3 billion in new external borrowing and the issuance of a $500 million sovereign sukuk.
According to reports, the move is part of Nigeria’s plan to refinance existing debts and support the 2025 national budget. The new borrowing is expected to help manage maturing Eurobonds and provide stability to the country’s fiscal operations.
The sovereign sukuk, which aligns with Islamic finance principles, would mark Nigeria’s debut issuance on the international market — a strategic step toward diversifying its borrowing options and attracting new investors.
Analysts say the plan could boost liquidity and provide short-term relief, but also caution that debt sustainability and currency risks remain major challenges.
If approved, this borrowing will add to the government’s broader effort to fund reforms, strengthen the economy, and improve infrastructure.
Read more https://flowisetech.com/blogs/892/President-Tinubu-Seeks-Parliamentary-Approval-for-2-3B-New-Borrowing
#Tinubu #NigeriaEconomy #Sukuk #NigeriaBudget #DebtRefinancing #NigeriaFinance #BolaTinubu #NationalAssembly #NigeriaNews #BudgetSupport #ExternalBorrowing #FlowiseTechNews
President Tinubu Seeks Approval for $2.3 Billion Loan & $500 Million Sukuk
President Bola Ahmed Tinubu has asked the National Assembly to approve $2.3 billion in new external borrowing and the issuance of a $500 million sovereign sukuk.
According to reports, the move is part of Nigeria’s plan to refinance existing debts and support the 2025 national budget. The new borrowing is expected to help manage maturing Eurobonds and provide stability to the country’s fiscal operations.
The sovereign sukuk, which aligns with Islamic finance principles, would mark Nigeria’s debut issuance on the international market — a strategic step toward diversifying its borrowing options and attracting new investors.
Analysts say the plan could boost liquidity and provide short-term relief, but also caution that debt sustainability and currency risks remain major challenges.
If approved, this borrowing will add to the government’s broader effort to fund reforms, strengthen the economy, and improve infrastructure.
Read more https://flowisetech.com/blogs/892/President-Tinubu-Seeks-Parliamentary-Approval-for-2-3B-New-Borrowing
#Tinubu #NigeriaEconomy #Sukuk #NigeriaBudget #DebtRefinancing #NigeriaFinance #BolaTinubu #NationalAssembly #NigeriaNews #BudgetSupport #ExternalBorrowing #FlowiseTechNews
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