Tinubu seeks Senate approval for $20.52bn and €1.045bn in external loans2026-10-27President Bola Tinubu asked the Senate to approve $20.517bn and €1.045bn in external borrowing for projects and development programmes.The proposed loans would fund projects in areas including infrastructure, agriculture, healthcare, education, water supply and security.Finance Minister Taiwo Oyedele defended the plan as an investment, saying about $10.6bn would go to transport projects.The Senate referred the request to committees for review and gave them one week to report back.Former vice-president Atiku Abubakar urged the Senate not to approve the borrowing request.Tinubu asks Senate to approve $20.52bn, €1.045bn external loans (BusinessDay)‘It’s investment’ - Oyedele replies Atiku, critics of Tinubu’s $21.7bn external borrowing plan (Daily Post Nigeria)Atiku to Tinubu: $20.5bn loan plan vindicates my warning (Vanguard)‘Something is not adding up’ - Analyst questions Tinubu’s $20.5bn loan request (Daily Post Nigeria)‘My reforms make borrowing necessary’, Tinubu writes Senate seeks approval for $20.52bn, €1.045bn fresh loan (Ripples Nigeria)$21.7bn Borrowing Plan Is Investment In Assets, Not For Consumption, Says FG (Channels Television)Tinubu Knocks Opponents over Borrowing, Says Investments Will Expand Opportunities (ThisDay)