BORROWER-IN-CHIEF: TINUBU SEEKS FRESH $20.5BN, €1.04BN LOAN

October 27, 2026 • Dons Eze • 1 min read

President Bola Ahmed Tinubu has sought the approval of the National Assembly for fresh $20.5 billion and €1.04 billion external loans to fund critical projects across the country.

Tinubu’s request was conveyed in a letter read by the President of the Senate, Godswill Akpabio, during plenary on Tuesday.

The President said the fresh $20.5 billion and €1.04 billion external loans are needed to fund critical infrastructure and development projects.

This is coming as the country prepares for the 2027 general elections, with many Nigerians questioning why Tinubu is seeking fresh loans.

Dons Eze

DONS EZE, PhD, Political Philosopher and Journalist of over four decades standing, worked in several newspaper houses across the country, and rose to the positions of Editor and General Manager. A UNESCO Fellow in Journalism, Dr. Dons Eze, a prolific writer and author of many books, attended several courses on Journalism and Communication in both Nigeria and overseas, including a Postgraduate Course on Journalism at Warsaw, Poland; Strategic Communication and Practical Communication Approach at RIPA International, London, the United Kingdom, among others.