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Nigeria Secures $784M in Domestic Borrowing to Plug 2025 Budget Gap
13 Nov
Summary
- Nigeria's National Assembly approves $784M in domestic borrowing
- Funding to help cover shortfall in 2025 budget
- Nigeria raised $2.35B via Eurobond issuance last week
On November 12, 2025, Nigeria's National Assembly approved an additional 1.15 trillion naira ($784 million) in domestic borrowing to help fund a shortfall in the country's 2025 budget. President Bola Tinubu had sought the approval two weeks earlier, citing a gap between the 12.95 trillion naira deficit proposed by the executive and the 14.10 trillion naira passed by lawmakers.
Nigeria's 2025 budget stands at 59.99 trillion naira, with the deficit to be financed through a mix of external and domestic borrowing. Last week, the country raised $2.35 billion via Eurobond issuance, which drew $10.65 billion in bids. Finance Minister Wale Edun stated that the strong demand reflected confidence in Nigeria's reform plans and commitment to sustainable growth.
