Tinubu seeks $20.52bn, €1.045bn new foreign borrowing for projects

President Tinubu asked the National Assembly to approve about $20.52 billion and €1.045 billion in new external borrowing for projects in infrastructure, power, transport, healthcare, agriculture, education and employment. The Federal Government also agreed to pay federal workers a N70,000 monthly transport allowance for six months starting November 2026 while other labour talks continue.

Pidgin: President Tinubu don ask National Assembly make dem approve about $20.52 billion and €1.045 billion new external borrowing for project wey go cover infrastructure, power, transport, healthcare, agriculture, education and employment. Federal Government also agree to pay federal workers N70,000 every month as transport allowance for six months wey go start from November 2026 while other labour talk still dey continue.

How this affects you: Federal public service workers across all grade levels will receive a ₦70,000 monthly transport intervention for six months beginning in November 2026.