The Canada Brief

World · 7 d ago

Bola Tinubu, President of Nigeria

Foreign, Commonwealth & Development Office · CC BY 2.0 · Wikimedia Commons

Nigeria's president asks the Senate to approve US$20.5 billion in new foreign loans

What the money is for

  • Infrastructure
  • Agriculture and health care
  • Education and water supply
  • Security and job creation

The plan also includes €1.05 billion, to fund infrastructure, agriculture, health care, education, water supply, security and jobs.

Senate President Godswill Akpabio sent the request to a committee, which has one week to review it.

The opposition African Democratic Congress had warned weeks earlier that Nigeria's debt had become unsustainable.