Tinubu asks Senate to approve $7.7bn external borrowing plan

President Tinubu has asked the Senate to approve a $7.7 billion external borrowing plan. This replaces a $20.52 billion loan request from last week and will part-finance the N20.2 trillion budget deficit, equating to about N10.79 trillion at N1,400 to the dollar.

Pidgin: President Tinubu don ask Senate make dem approve $7.7 billion external borrowing plan. Dis one na to replace di $20.52 billion loan wey dem present last week, e go help fund di N20.2 trillion budget deficit wey go reach about N10.79 trillion for N1,400 to one dollar.

How this affects you: No direct impact stated in source.