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Nigerian President Bola Tinubu has formally approached the National Assembly to seek approval for a significant supplementary external borrowing plan totaling approximately $21.7 billion. The request, which was submitted to the federal legislature, is designed to cover financial requirements for the 2026 and 2027 fiscal years. This ambitious borrowing strategy highlights the administration's focus on securing large-scale international funding to drive national development agendas over the coming years. The proposed borrowing package consists of two distinct components: a $20.52 billion segment and an additional €1.05 billion, which is equivalent to roughly $1.17 billion. According to the presidential communication, these funds are earmarked for the financing of critical infrastructure projects across various sectors of the Nigerian economy. The administration intends to leverage these resources to address long-standing infrastructure deficits that have hindered the country's economic growth and industrial potential. This request comes at a time when the Nigerian government is seeking to balance its budget while pursuing aggressive growth targets. By spreading the borrowing plan across the 2026-2027 period, the executive branch aims to ensure a steady pipeline of capital for ongoing and new projects. The National Assembly is expected to deliberate on the terms and conditions of the proposed loans, as well as the specific projects they will fund, before granting its final endorsement.