President Bola Tinubu has asked the National Assembly to approve external loans of $20.5bn and €1.4bn to finance development projects under the proposed 2026–2027 borrowing plan.
The President also submitted a bill seeking to expand Nigeria’s legal framework for transferring convicted offenders to other countries, Senate President Godswill Akpabio announced the requests during plenary on Tuesday as the National Assembly resumed sitting.
Tinubu said the proposed borrowing would help close infrastructure gaps and support development in key sectors, including power, transportation, agriculture, healthcare, education, water supply and security.
He said the projects were selected based on technical and economic assessments and were expected to create jobs, promote skills acquisition and entrepreneurship, reduce poverty and strengthen food security.
The projects are expected to be implemented across the states and the Federal Capital Territory.
Also Read: Tinubu declines assent to two National Assembly Bills
The borrowing request will undergo legislative scrutiny, with the Senate Committee on Local and Foreign Debts expected to review the proposal and submit its report within one week. The committee may also consult other relevant committees during the review.
Meanwhile, Tinubu has transmitted the Transfer of Convicted Offenders Amendment Bill, 2026, seeking changes to the legal framework governing the transfer of convicted persons between Nigeria and other countries.
The proposed legislation seeks to facilitate prisoner-transfer agreements with countries outside the Commonwealth. It would also empower the President to extend the law’s application to countries with which Nigeria has entered into relevant agreements.
The bill has been referred to the Senate Committee on Rules and Business for further legislative action.
The National Assembly is expected to scrutineer both proposals, including the terms of the proposed borrowing, the projects to be financed and the legal provisions governing international prisoner transfers.
News Express Nigeria
