President Bola Tinubu on Tuesday sought the approval of the Senate to borrow N1.15tn from the domestic debt market to finance part of the deficit in the 2025 national budget.

The request, contained in a letter read during plenary by Senate President Godswill Akpabio, is the latest in a series of borrowing plans presented by the executive to sustain government programmes amid tightening fiscal space.

According to the President, the fresh borrowing would “bridge the funding gap and ensure the full implementation of government programmes and projects” under the 2025 fiscal plan.

Akpabio referred the request to the Senate Committee on Local and Foreign Debt for further legislative consideration, directing it to report back within one week for subsequent action.