Nigeria seeks parliamentary approval for $20.5bn, €1.05bn external borrowing

President Tinubu has requested National Assembly approval for new external borrowing of $20.5bn and €1.05bn to fund infrastructure, agriculture, health, education, water, security, and financial reforms. The request signals continued reliance on external debt amid fiscal strain, though project specifics and terms remain unclear. Approval would expand Nigeria's external debt profile and may affect investor sentiment toward the country's fiscal sustainability.

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