The House of Representatives Thursday mandated its Committee on Loans and Debt Management and related others to scrutinise President Bola Ahmed Tinubu’s request for a ₦1.15 trillion borrowing programme from the domestic debt market to fund deficits in the 2025 budget.

The House had received the communication, titled: “Request for the Approval of the National Assembly for a Borrowing Programme to Fund the 2025 Budget Deficit,” dated October 31, 2025, was addressed to the Speaker of the House, Hon. Abbas Tajudeen.

Presiding over the plenary, the Deputy Speaker, Hon. Benjamin Okezie Kalu, stated that the president’s request was prompted by the increase in the total size of the 2025 Appropriation Act as passed by the National Assembly, which created an unfunded deficit gap.

 The president’s letter stated that the National Assembly approved a total budget of ₦59.99 trillion, an increase of ₦5.25 trillion over the ₦49.74 trillion initially proposed by the executive, adding that the adjustment resulted in a total budget deficit of ₦14.10 trillion.

However, the borrowing amount originally approved in the budget stood at ₦12.95 trillion, leaving an unfunded deficit of ₦1,147,462,863,321.39 (approximately ₦1.15 trillion).