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Nigeria: Tinubu seeks approval for new $7.7bln loan, withdraws earlier requests

President Bola Titubu has formally withdrawn his earlier request seeking legislative approval to process external borrowings of $20.5 billion and €1.05 billion, replacing it with a fresh $7.7 billion loan proposal to partly finance the 2026 budget deficit. The policy shift was conveyed in an executive communication read by the President of the Senate, Senator Godswill Akpabio, during plenary on Wednesday. [...]