ABUJA (Reuters) -Nigeria’s Senate has approved President Bola Tinubu’s plan for more than $21 billion in foreign borrowing to plug shortfalls in the 2025 budget, a senior lawmaker said late on Tuesday.
Tinubu asked parliament to approve the borrowing in May.
“With this approval we now have all revenue sources, including loans, in place to fully fund the budget,” Solomon Adeola, Senate chair on appropriations, told reporters.
(Reporting by Camillus Eboh; Writing by Elisha Bala-Gbogbo;Editing by Alexander Winning)
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