The Nigerian Senate has approved President Bola Ahmed Tinubu’s request to borrow N1.15 trillion. This loan is expected to support government spending and fund major development projects across the country. Lawmakers said the loan is aimed at boosting infrastructure and strengthening key sectors of the economy.

The approval followed a review of the President’s request and recommendations from the Senate Committee on Local and Foreign Debt. Senators noted that the borrowing is necessary for the government to keep running essential programs and complete ongoing projects. However, some lawmakers also warned that Nigeria must manage its debt carefully to avoid financial strain in the future.

With this approval, the Federal Government now has the green light to source funds from lenders. The Senate urged the executive arm to ensure transparency and proper use of the money. Nigerians are hopeful that the loan will bring visible improvements in development and create economic opportunities.