The House of Representatives on Thursday approved President Bola Tinubu’s request for external borrowing amounting to ₦1.77 trillion (USD 2.209 billion equivalent) as outlined in the 2024 Appropriation Act. The loan will be raised through Eurobonds and other sources.

The approval followed the presentation of a report by Hon. Abubakar Nalaraba, Chairman of the House Committee on Aids, Loans, and Debt Management, during plenary.

The motion was passed under the presiding authority of Deputy Speaker Hon. Benjamin Kalu.

In a separate session, the House also advanced a bill to amend the High Court of the Federal Capital Territory (FCT), Abuja Act, passing it through the second reading. The bill seeks to increase the number of judges in FCT High Courts to enhance judicial efficiency.

The proposed legislation was sponsored by Deputy Speaker Hon. Benjamin Kalu, along with Reps. Babajimi Benson, Akin Rotimi, and five other lawmakers.