Home More NewsNationalSenate Approves Tinubu’s Request to Borrow ₦1.15 Trillion to Fund 2025 Budget Deficit

Senate Approves Tinubu’s Request to Borrow ₦1.15 Trillion to Fund 2025 Budget Deficit

written by user photoFaisal Salisu Dambatta

The Senate on Wednesday approved President Bola Ahmed Tinubu’s request to borrow ₦1.15 trillion from the domestic debt market to finance the deficit in the 2025 national budget.

The approval followed the adoption of the report of the Senate Committee on Local and Foreign Debts, presented by the Vice Chairman of the Committee, Senator Manu Haruna (APC–Taraba).

President Tinubu had, in a letter dated November 4, 2025, sought the Senate’s approval for the domestic borrowing to bridge the shortfall in the 2025 Appropriation Bill.

Presenting the report, Senator Haruna explained that the 2025 Appropriation Act passed by the National Assembly amounted to ₦59.99 trillion—an increase of ₦5.25 trillion from the ₦54.74 trillion initially proposed by the executive.

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He noted that the adjustment created a budget deficit of ₦14.10 trillion, while the proposed borrowing in the budget was ₦12.95 trillion, leaving an unfunded gap of ₦1.147 trillion.

During deliberations, Senator Abdul Ningi (APC–Bauchi) stressed the need for effective oversight and called on the Committee on Appropriation to work closely with the Debt Management Office (DMO) and the Budget Office to ensure proper utilization and servicing of the loan.

He urged the committee to receive quarterly reports on the implementation and utilisation of the borrowed funds.

Also speaking, Senator Adeola Solomon (APC–Ogun) commended the committee’s report, describing it as a “true reflection” of the budget process, while emphasizing the need for a concrete plan to raise the funds promptly to sustain capital project execution.

Following the adoption of the report, the Senate directed the Federal Ministry of Finance and the DMO to ensure that the borrowing is carried out strictly within approved fiscal parameters and that all terms and conditions remain favourable, transparent, and sustainable.

The Senate further mandated its Committees on Local and Foreign Debts, and Appropriation, to oversee the implementation and utilisation of the proceeds and to ensure that the funds are used strictly to finance the deficit in the 2025 Appropriation Act.

Deputy Senate President, Senator Barau Jibrin (APC–Kano), who presided over the session, commended the committee for its diligence and timely presentation of the report.

Daily Trust

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Faisal Salisu Dambatta is a Nigerian journalist, editor, and digital publisher recognized for his dedication to factual reporting and public-interest storytelling. He has built a reputation for blending traditional journalistic integrity with modern, data-driven news analysis. Over the years, Faisal has covered national and regional developments across politics, governance, technology, and socio-economic affairs. His writing emphasizes accuracy, accountability, and the preservation of journalistic ethics in the digital age. He currently serves as a lead editor at Etimes247 Newspaper, where he oversees editorial direction, audience engagement, and the integration of SEO-optimized content strategies. Faisal believes in using media as a force for civic awareness and constructive public dialogue. When he’s not editing stories, he contributes to journalism training, digital literacy advocacy, and research on the evolution of online news consumption in Africa. Areas of Expertise: Investigative reporting | Digital publishing | Media strategy | SEO | Audience development

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