President BOLA TINUBU has written the Senate seeking approval for 8.6 billion dollar and 100 million euro external borrowing plan for critical infrastructure in areas such as power, roads, water, railway, and health.

The president’s request was contained in a letter read at the commencement of plenary by the President of the Senate, GODSWILL AKPABIO.

President TINUBU, in the letter, explained that the request was part of the federal government's 2022-2024 external borrowing plan approved by former President MUHAMMADU BUHARI’s administration.

He said the projects to be funded with the loan cuts across different sectors of the economy were selected based on economic evaluation and the expected contribution to the country’s development.

The President also forwarded the Federal Capital Territory Supplementary Budget to the House of Representatives for consideration.

Meanwhile, the President will present the 2024 budget to the joint session of the National Assembly today.