President Bola Tinubu has submitted a request to the House of Representatives seeking approval for an external borrowing plan of $8.6 billion and €100 million for critical infrastructure projects in sectors like power, roads, water, railway, and health.
Additionally, the President has forwarded the Federal Capital Territory Supplementary Budget to the House for consideration.
In a related development, President Tinubu is scheduled to present the 2024 budget to the National Assembly on Wednesday, following the Federal Executive Council’s approval of a N27.5 trillion budget for 2024.
The approval involved revisions to the Medium-Term Expenditure Framework, adjusting the exchange rate to N750 to $1 and the benchmark crude oil reference price to $77.96 per barrel.
