Nigeria Seeks $21.7B Borrowing Approval

Nigerian President Bola Tinubu has requested legislative approval for a $21.7 billion external borrowing plan. The funds aim to support infrastructure and economic development projects across multiple sectors throughout 2026 and 2027.

Nigeria's president Bola Tinubu attends a panel discussion during the Africa CEO forum under the theme “The Scale Imperative: Why Africa Must Embrace Shared Ownership,” at the Kigali Convention Centre in Kigali, Rwanda, May 14, 2026. REUTERS/Jean Bizimana

Nigeria has sought parliamentary approval for a $21.7B supplementary external borrowing plan to fund infrastructure projects. The proposed financing package covers the 2026-2027 period to accelerate national growth.