• Home
  • Browse
    • News
    • Documentaries
    • Movie
    • Street Gist
    • Tech
    • Sports
    • Politics
    • Fashion
  • About
No Result
View All Result
LIVE TV
  • Login
  • Home
  • Browse
    • News
    • Documentaries
    • Movie
    • Street Gist
    • Tech
    • Sports
    • Politics
    • Fashion
  • About
No Result
View All Result
  • Login
Home News

Senate Set To Approve Tinubu’s $2.2 Billion Loan Request

oweleketv by oweleketv
November 20, 2024
395 4
0
Tinubu Won’t Intervene in Fuel Price Dispute Between Dangote Refinery and NNPCL – Presidency
549
SHARES
2.5k
VIEWS
Share on FacebookShare on Twitter

The Senate is expected to approve President Bola Tinubu’s $2.2 billion (approximately N1.77 trillion) external loan request today (Wednesday).

The loan, part of the external borrowing plan, is aimed at financing the N28.7 trillion 2024 budget, specifically to address the ₦9.7 trillion budget deficit.

President Tinubu’s request was conveyed in separate letters read during Tuesday’s plenary sessions in both the Senate and the House of Representatives.

The president justified the loan as necessary for partially financing the deficit while implementing key government programs.

In response to the letter, Senate President Godswill Akpabio directed the Senate Committee on Local and Foreign Debts to review the request and submit its report within 24 hours.

Akpabio stated, “The Presidential request for $2.2bn, equivalent to ₦1.77tn, is already enshrined in the external borrowing plan for the 2024 fiscal year.

“The Senate Committee on Local and Foreign Loans should therefore give the request expeditious consideration and report back within 24 hours.”

Additionally, Tinubu submitted the Medium-Term Expenditure Framework and Fiscal Strategy Paper for 2025–2027 to both the Senate and the House of Representatives.

Akpabio directed the Senate Committee on Finance, National Planning, and Economic Affairs to consider the MTEF/FSP documents and report back within one week.

Key parameters in the MTEF/FSP include a $75 oil price benchmark per barrel, daily oil production of 2.06 million barrels, an exchange rate of ₦1,400 to $1, and a targeted GDP growth rate of 6.4 per cent.

These figures form the basis for consideration and approval of the proposed ₦47.9tn 2025 budget.

Tags: SenateTinubu
Advertisement Banner
oweleketv

oweleketv

Related Posts

‘Eliminate these threats!’ Tinubu Orders Investigation into Damboa Army Base Attack
News

Defection No Shield Against Prosecution, FG Warns Amid Corruption Allegations

May 23, 2025
Saraki Leads PDP Strategy Talks with Enugu Governor Amid 2027 Realignment Rumours
News

Saraki Leads PDP Strategy Talks with Enugu Governor Amid 2027 Realignment Rumours

May 23, 2025
“My Best Chance Yet” – Mohamed Salah Eyes Ballon d’Or Glory After Historic Season with Liverpool
News

“My Best Chance Yet” – Mohamed Salah Eyes Ballon d’Or Glory After Historic Season with Liverpool

May 23, 2025
“No More Freebies!” – Don Jazzy Warns Fans Against Expecting Big Favours for Small Gifts
Celebrity News

“No More Freebies!” – Don Jazzy Warns Fans Against Expecting Big Favours for Small Gifts

May 23, 2025
BREAKING: Presidential Election Tribunal Adjourns Sitting to May 10
News

Tinubu Clinches APC’s 2027 Endorsement as Atiku, Obi Consider Coalition Ticket

May 23, 2025
Stop Running, Just Submit Yourself To EFCC – Natasha Akpoti Tells Yahaya Bello
News

Akpabio, Yahaya Bello Named as Witnesses in FG’s Defamation Case Against Senator Natasha

May 23, 2025

Recommended

‘Eliminate these threats!’ Tinubu Orders Investigation into Damboa Army Base Attack
News

Defection No Shield Against Prosecution, FG Warns Amid Corruption Allegations

May 23, 2025
Saraki Leads PDP Strategy Talks with Enugu Governor Amid 2027 Realignment Rumours
News

Saraki Leads PDP Strategy Talks with Enugu Governor Amid 2027 Realignment Rumours

May 23, 2025
“My Best Chance Yet” – Mohamed Salah Eyes Ballon d’Or Glory After Historic Season with Liverpool
News

“My Best Chance Yet” – Mohamed Salah Eyes Ballon d’Or Glory After Historic Season with Liverpool

May 23, 2025

Popular Playlist

Currently Playing

Biafra: Finnish Court Fixes Deadline For Simon Ekpa’s Trial

Biafra: Finnish Court Fixes Deadline For Simon Ekpa’s Trial

Biafra: Finnish Court Fixes Deadline For Simon Ekpa’s Trial

News
Joe Biden Is The Worst President Ever – Donald Trump [Video]

Joe Biden Is The Worst President Ever – Donald Trump [Video]

News
Senator ‘Runs Away’ From Live TV Interview Over Question On 2024 Budget

Senator ‘Runs Away’ From Live TV Interview Over Question On 2024 Budget

News
Easter Holiday: You Are Safe To Travel By Road, Rail, Air, Waterways – IGP Assures Nigerians

Easter Holiday: You Are Safe To Travel By Road, Rail, Air, Waterways – IGP Assures Nigerians

News
Atiku Warns on Imminent Disaster as Obi Slams FG Over Ukraine’s Grains Donation | Newspaper Review

Atiku Warns on Imminent Disaster as Obi Slams FG Over Ukraine’s Grains Donation | Newspaper Review

Celebrity News
  • About
  • Contact Us
Whatsapp: +2347084616073

© 2023 Oweleke TV, All Rights Reserved. Managed by Browsedotcom.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Browse
    • News
    • Documentaries
    • Movie
    • Street Gist
    • Tech
    • Sports
    • Politics
    • Fashion
  • About

© 2023 Oweleke TV, All Rights Reserved. Managed by Browsedotcom.