The Nigerian Senate has approved President Bola Tinubu’s request to secure $6 billion in external loans.
The approval came shortly after the request was presented and debated during plenary.
The Senate considered a report from a committee on local and foreign debts before giving its backing.
The loan includes a $5 billion financing deal with a UAE bank and a $1 billion facility from a UK lender.
According to the plan, the funds will support major infrastructure projects, including port rehabilitation.
Lawmakers say the move is aimed at boosting economic development and improving key national facilities.