Tinubu writes Senate, seeks contemporary ₦1.15trn home mortgage to fund 2025 finances deficit

President Bola Tinubu has written to the Senate in search of approval for a contemporary ₦1.15 trillion borrowing from the home debt market to finance the deficit within the 2025 finances.

The request was contained in a letter learn on Tuesday by Senate President Godswill Akpabio throughout plenary.

In response to the President, the proposed borrowing is geared toward bridging the funding hole and guaranteeing full implementation of presidency programmes and initiatives outlined within the 2025 fiscal plan.

Following the announcement, Akpabio referred the request to the Senate Committee on Native and International Debt, chaired by Senator Aliyu Wammako (APC, Sokoto North), with a directive to report again inside one week for additional legislative motion.