- Tinubu cuts external borrowing request, raising questions about fiscal sustainability.
- Rising debt costs and Eurobond exposure could strain Nigeria’s finances
ABUJA, NIGERIA – President Bola Tinubu has scaled back Nigeria’s planned foreign borrowing to $7.7bn, raising a bigger question: will the loans deliver economic growth?
The revised proposal replaces an earlier request for $20.52bn and €1.045bn in external financing. It is not additional borrowing outside the 2026 budget, but forms part of the N29.2trn in new debt already authorised to help finance government spending.
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