Tinubu: $21.7bn loans to fund infrastructure, create jobs

President Bola Tinubu has asked the National Assembly to approve the processing of external loans worth $20.5 billion ($20,517,755,901), and one billion Euros (€1,045,083,643) under the 2026–2027 Supplementary External Borrowing Plan.

The loans would be used to finance critical projects across various sectors, including infrastructure, agriculture, healthcare, education, water supply, security and employment generation, as well as financial management reforms.

I submit the attached Federal Government 2026-2027 Supplementary External Borrowing Plan for consideration and early approval of the National Assembly to ensure prompt implementation of our projects.

Tinubu said external funding was needed to bridge a financing gap created by the country’s substantial infrastructure needs.