•Submits 2025-2027 MTEF, transmits NSIP amendment Bill
Adedayo Akinwale in Abuja
President Bola Tinubu Tuesday sought the approval of the National Assembly to raise the sum of N1,767,610,321,779, which is equivalent to $2.209 billion provided as new external borrowing in the 2024 Appropriation Act to finance the budget deficit of N9.179 trillion.
The letter, dated November 15, was read on the floor of the House on Tuesday by the Speaker, Hon. Tajudeen Abbas.
The president said: “In accordance with the provisions of Sections 21(1) and 27(1) of the Debt Management Office (DMO) (Establishment, Etc.) Act, 2003, and the approval of the Federal Executive Council, I write to request for a Resolution of the National Assembly to raise the sum of N1,767,610,321,779.00 (equivalent of $2,209,512,902.22 at the Budget Exchange Rate of USD1.00/N800) provided as New External Borrowing in the 2024 Appropriation Act to part finance the budget deficit of N9.179…
Source: Thisday Newspaper
