President BOLA TINUBU has written to the National Assembly to seek the approval of about 2.2 billion dollars as a new external borrowing plan in the 2024 Appropriation Act.

The President’s request was contained in a letter read by the Speaker of the House of Representatives, TAJUDEEN ABBAS, during plenary session.

If approved, the loan will be used to part-finance the budget deficit of 9.7 trillion naira for the 2024 budget.

The President has also forwarded the 2025- 2027 Medium-Term Expenditure Framework and the Fiscal Strategy Paper to the National Assembly for consideration and approval.