The Senate has approved President Bola Tinubu’s request to establish a N1.15 trillion domestic borrowing programme to close the funding gap in the 2025 Appropriation Act.
The approval followed the adoption of the report by the Senate Committee on Local and Foreign Debts, which highlighted a shortfall created by the increase in the budget size.
Presenting the findings, Deputy Committee Chairman Manu Haruna explained that the ₦59.99 trillion budget passed by the National Assembly exceeded the Executive’s initial proposal of ₦54.74 trillion, creating a ₦14.10 trillion deficit.
“Since the original borrowing plan approved by the executive was ₦12.95 trillion, an unfunded gap of ₦1.147 trillion emerged, necessitating additional domestic borrowing. It is therefore necessary to increase the domestic borrowing limit in the 2025 budget to close this gap,” Haruna said.
The committee recommended that the Federal Ministry of Finance and Debt Management Office (DMO) undertake the borrowing strictly within approved fiscal parameters, ensuring transparency, sustainability, and favorable terms. The Senate Committee on Local and Foreign Debts will oversee the implementation, receive quarterly reports, monitor compliance with debt sustainability thresholds, and report any deviations to the Senate.
Supporting the report, Senator Solomon Adeola (Ogun West), Chairman of the Appropriations Committee, said, “The borrowing is necessary to fund the 2025 budget. I welcome the domestic sourcing, which will ensure timely implementation of capital projects.”
Senator Abdul Ningi (Bauchi Central) stressed the urgency of the borrowing and called for additional oversight by the Appropriations Committee to ensure the funds are used strictly for the purposes approved by the Senate.
The motion was seconded by Senator Ali Ndume, emphasising accountability and compliance.
Consequently, the Senate adopted an additional recommendation mandating the Appropriations Committee to ensure that the borrowing is executed strictly for its intended purpose.
With the approval, the Federal Government can now raise N1.15 trillion in domestic borrowing, bridging the 2025 budget deficit and ensuring the smooth implementation of the nation’s fiscal plans.
NEMA receives 180 vulnerable Nigerian returnees from Libya
The National Emergency Management Agency, Lagos Operations Office, in collaboration with key stakeholders, has received 180 vulnerable Nigerian returnees from Libya.
According to a statement released on Wednesday, the returnees arrived “at the Cargo Terminal of Murtala Muhammed International Airport, Lagos, on November 11, 2025, at around 7:00 pm aboard an Air Libya flight (registration 5A-BAE).”
NEMA, in partnership with the International Organisation for Migration (IOM) and other stakeholders, has facilitated the safe return of thousands of Nigerians stranded abroad over the years.
The agency said the group included “147 adults (45 males and 102 females), 19 children (6 males and 13 females), and 14 infants (7 males and 7 females). Forty-six of the returnees were identified with medical conditions and were immediately attended to by health officials.”
“Upon arrival, officers of the Nigeria Immigration Service conducted biometric registration and documentation to ensure accurate profiling and smooth reintegration of the returnees into the country,” NEMA stated.
In line with the Federal Government’s commitment to safe and dignified repatriation, the returnees were provided with food, potable water, medical care, ambulance services, luggage handling, logistics support, and counselling.
“The seamless and well-organised operation reflects the Federal Government’s sustained efforts to protect the welfare and dignity of Nigerians returning from crisis-affected regions abroad,” NEMA added.