The House of Representatives, on Wednesday, referred President Bola Ahmed Tinubu’s request to establish a ₦1.15 trillion domestic borrowing programme to the relevant committee for further legislative action.
The request, contained in a letter titled: “Request for the Approval of the National Assembly for a Borrowing Programme to Fund the 2025 Budget Deficit” and dated October 31, 2025, was addressed to Speaker Abbas Tajudeen.
Presiding over the plenary, the Deputy Speaker Benjamin Okezie Kalu, explained that the President’s request followed an upward review of the 2025 Appropriation Act by the National Assembly, which created an unfunded deficit gap.
According to the President’s letter, the National Assembly approved a total budget of ₦59.99 trillion—an increase of ₦5.25 trillion over the ₦49.74 trillion earlier proposed by the Executive.
The adjustment, he noted, resulted in a total deficit of ₦14.10 trillion.
However, the borrowing amount initially approved in the budget stood at ₦12.95 trillion, leaving an unfunded deficit of ₦1,147,462,863,321.39 (approximately ₦1.15 trillion).
Tinubu stressed that the request was in line with Section 44 (1–2) of the Fiscal Responsibility Act (FRA), 2007, which requires National Assembly approval for all new borrowings by the Federal Government.
In keeping with its oversight responsibility to promote fiscal discipline and transparency, the House referred the request to the Committee on Aids, Loans and Debt Management for detailed scrutiny. The committee is expected to examine the proposal and report back to the House for further consideration.
The referral reflects the House’s commitment to upholding fiscal responsibility, debt sustainability, and accountability in the implementation of the 2025 Budget.
During two closed-door sessions held on Wednesday, lawmakers demanded the full implementation of the capital component of the 2024 Appropriation Act.
They expressed displeasure over the protest by indigenous contractors who blocked the main entrance of the National Assembly complex in Abuja on Tuesday and Wednesday, calling for the immediate release of funds for completed projects.
The lawmakers also urged the Executive to ensure the prompt commencement of capital implementation for the 2025 Appropriation Act once approved, to prevent project delays and stalled development initiatives.
Following the deliberations, the House adjourned plenary until next Tuesday.
