President Bola Ahmed Tinubu has requested the House of Representatives’ approval to raise $2.347 billion from the international capital market to finance part of the 2025 budget deficit and refinance Nigeria’s maturing Eurobonds.
The President also sought approval for the issuance of a $500 million debut sovereign Sukuk to support critical infrastructure development.
According to Tinubu, the funds will be deployed to part-finance the 2025 budget deficit and refinance the $1.118 billion Eurobond maturing in November 2025.
The President noted that the government plans to explore various options, including Eurobonds, bridge finance facilities, loan syndication, or direct borrowing from international financial institutions, to raise the funds.
